By Sonia Isotov
Property values may be on the rise, at least in the luxury market on Maui. The Wall Street Journal reported last week that San Francisco technology investor and entrepreneur Peter Thiel bought an oceanfront home on Maui for $27 million.
This is believed to be the biggest deal for a single-family home in Maui County, according to the WSJ.
The property is located in Makena on 1.7 acres and is a contemporary design built in 1991 with over 4,500 square feet and a pool.
The realtor was Nancy Callahan of the Wailea Group and she represented both sides of the deal.
Mr. Thiel was a co-founder PayPal and an early Facebook investor. It was also reported that the seller were Dan Huish, founder of private-label laundry- and dish-product maker Huish Detergents, and his wife, Kim. The couple bought the property in 2006 for $19.2 million.