Inside the billionaire Kukio getaway

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For the average tourist, a trip to Hawaii might involve a crowded Honolulu beach, fruity drinks, maybe a flower necklace. But for those with larger bank accounts and perhaps the right connections, a completely different Hawaii paradise awaits.

Carved from the lava off the Kona Coast on the Big Island, Kukio is Hawaii’s most exclusive neighborhood. The enclave arose from the adjacent development to the north called Hualalai, when the owners decided they wanted to form an even smaller community. While Hualalai owns a Four Seasons hotel and welcomes day trippers, Kukio is only open to owners and their guests – you can’t even enter its doors without an owner’s express permission. Many owners come from the Bay Area, where a private flying club dubbed the “Kona Shuttle” takes them to the island and on Thursdays and back on Sundays.

Billionaire Michael Dell is a major player in both communities: his $ 64.7 million (appraised value) Raptor residence of 18,500 square feet (# 5 on the aerial shot above) is the crown jewel of Kukio development.

Dell’s
the property comprises three lots and sits atop the widest stretch of waterfront of any home in the community; the home has seven bedrooms, seven full baths and five half baths. Dell is also a co-owner of Hualalai, which it acquired through his private equity firm in 2006.

Dell’s immediate neighbor is Paul Hazen (N ° 4 on the antenna), Chairman of KKR Financial Holding Corporation and former Chairman and CEO of

Wells fargo
. His $ 26.7 million (appraised value) 10,000 square foot home was presented in Architectural summary. A lower door is the vacation home of tech investor David L. Anderson of Sutter Hill Ventures in Palo Alto. His house of 7,938 square feet (N ° 3) has five bedrooms, five and a half bathrooms and direct beach access. And next to Anderson is David Roux (N ° 1), co-founder of Silver Lake, the company that helped Dell privatize its namesake company last year. Roux bought his house for $ 20 million in 2007.

Just behind Roux’s house is the Kona Coast getaway of another Silicon Valley capitalist, Bandel Carano of Oak Investment Partners. His 14,680 square foot house (No. 2) is valued at $ 19.7 million and includes seven bedrooms and 11 bathrooms. Carano might not be a household name, but he’s influential: he sits to the Kratos Board of Directors, a contractor whose clients include the US government’s national security agencies.

The exclusive community of Hualalai is where Ken Griffin, 45, the billionaire founder of the Citadel hedge fund, chose to own two homes (Nos 6 on the air). One, a $ 17 million (2011 purchase price), 5,600-square-foot Balinese-style beachfront home, features an infinity pool. The other, a $ 13 million property (2010 purchase price), is just 100 yards away. Griffin’s close neighbor is fellow billionaire George Roberts, one of the founders of private equity giant KKR. Robert’s house (N ° 7), valued at $ 22.1 million, is on the tip of Hualalai, giving Roberts a panoramic view of the ocean with no neighbors.

Across the golf course from Roberts and Griffin, it looks like Oaktree Capital Management founder and billionaire Howard Marks has a place. The $ 23.8 million home (2009 purchase price) (N ° 8) is owned by a company that shares the Marks company address. Her neighbor not too far away is Bertie Buffett, sister of Warren. Bertie paid just $ 3.2 million for the land in 1997, which overlooks the Jack Nicklaus-designed Hualalai Golf Course, and has since built a 6,815-square-foot home. (N ° 9). Today, it is valued at $ 17.3 million.

This was the only property FORBES could fit on the antenna above, but there are plenty of other notable owners along this exclusive stretch of the Kona Coast. Kukio owners include Bob Parsons, formerly of GoDaddy, as well as troubled real estate investor Ellis Short and software investor Doug Mackenzie of Kleiner Perkins Caufield and Byers. Another owner is Paul Stephens, co-founder of the San Francisco-based asset management group RS Investments (AUM, December 31, 2013). He owns a 9,525 square foot Kukio house with six bedrooms set back from the ocean but still offering stunning views. The house is valued at $ 15.4 million.

Andrew Borrok, a real estate investor / lawyer / future boss from New York City, owns an 8,008 square foot Hualalai home with six bedrooms and seven full baths and two half baths. But this place is tiny compared to the 20,000 square foot water mill in Borrok, NY Estate, currently in the market for $ 58.5 million. Borrok’s father, Charles, is vice president of real estate giant Cushman & Wakefield.

Chuck Esserman of consumer-focused private equity group TSG Consumer Partners made an early bet on health and organic food companies, and the move has clearly served him well. He too owns a property in Hualalai, a modest 5,490 square foot, four bedroom house that he bought for $ 9 million in 2010. And nearby is Paul Wick, who ran an investment fund. $ 3.25 billion Columbia Seligman technology. for two decades. Wick bought his house in Hualalai, which backs onto Dell’s sprawling residence, for $ 13.9 million in 2012. Although it only has four bedrooms, the house has four full bathrooms. and three bathrooms.

Do you want to buy your own house in Kukio? There are still many – and some houses built – available in the second and third phases of Kukio. Fewer properties are in fact available in Hualalai, according to Rob Kildow, sales manager for Hualalai. “I have three houses on the market. They have 20,” Kildow says. “As far as a vacant lot is concerned, it’s very difficult. What we’re seeing now is that some people are taking front row seats, tearing them down and building their own version.”

Kildow says he closed a house last week for $ 17.9 million, and has another closing next week at $ 12.1 million. “And none of these houses are on the ocean.”


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