In the fabulous life of the rich, Mark Zuckerberg recently purchased 700 acres of Kauai for approximately $100 million. When considering market analysis, you've got to wonder what competition and market analysis can you do for a purchase like this? What is the highest and best use of this property? At some point theoretics get thrown out the window with land as unique as this and with pockets so deep that they want what they want and will pay whatever to have it. For what uses is land valued economicaly well above it's discounted cash flow value for aesthetic and sentimental value?
From the article: "His 700 acres on the north shore will include a pristine white sand beach, a former sugarcane plantation, and an organic farm."
Not too long ago Larry Ellison purhcased Lana'i, Hawaii's sixth largest island, with intentions of "transforming this sleepy tourist backwater into a global pioneer of sustainable living". David Murdock listed the property at $1 Billion. It is estimated that Ellison purchased it for $500 million.
Sources:
http://www.businessinsider.com/mark-zuckerberg-buys-700-acres-in-hawaii-for-more-than-100-million-2014-10
http://www.telegraph.co.uk/luxury/travel/33945/lanai-hawaiis-serene-and-sustainable-private-island.html
http://www.forbes.com/sites/clareoconnor/2012/06/21/larry-ellison-hawaii-lanai-island-david-murdock-dole/
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