A sprawling Lanikai oceanfront compound is back on the market with a $31 million price tag after the owners upgraded major systems and refreshed the interiors. The waterfront spread features a 10,326-square-foot main residence, a guest house and a one-bedroom caretaker's cottage on roughly 0.8 acres, along more than 150 feet of ocean frontage. Brokers point to its direct water access and framed views of the Mokulua Islands as the details that set it apart in the neighborhood.
Listed at $31,000,000, 1240 Mokulua Drive offers about 10,326 square feet of indoor living space across three buildings on roughly 0.81 acres, according to List Sotheby's International Realty. The property hit the local MLS in mid-January and is being represented by Drew Read of List Sotheby's.
Renovations, layout and waterfront features
The estate includes more than 150 linear feet of ocean frontage, a private boat ramp and a courtyard pool tucked away from the trade winds, with floor-to-ceiling glass doors oriented toward direct Mokulua Island views, as reported by Mansion Global. "It's not on the beach, which gives it privacy, serenity and quiet," listing agent Drew Read told Mansion Global. The outlet also notes that the current owners installed a new standing-seam metal roof and overhauled the kitchen as part of recent improvements.
Price history and market context
The property last changed hands in July 2021 for roughly $24.38 million, a sale that ranked among Lanikai’s top transactions at the time, according to a market review from Coldwell Banker Global Luxury. The current asking price returns the estate to Oʻahu’s ultra-luxury tier and is expected to catch the eye of mainland and international buyers who closely follow island waterfront offerings.
Local coverage has highlighted a steady pipeline of high-end listings across Oʻahu, from Kahala to Lanikai, signaling ongoing demand for turnkey oceanfront compounds, according to Pacific Business News. In that environment, renovated, move-in-ready properties are positioned to command premium prices.
Photos, the MLS entry (MLS# 202600075) and contact information for Drew Read are available on the broker's listing page at List Sotheby's International Realty. With guest accommodations, private water access and sweeping island views, the Mokulua-facing estate stands out as a rare Lanikai offering that high-end buyers and agents are likely to track closely.
