At 52 years old, Kelly Slater, the eleven-time surfing world champion, holds the distinction of being the oldest athlete in the World Surfing League. Despite his legendary status in the surfing world, Slater has faced challenges selling his oceanfront compound in Hawaii. After listing the property for sale months ago, he has now made a significant price reduction to attract buyers.
In April 2024, Slater put his North Shore compound in Oahu on the market for $20 million. He originally purchased the six-bedroom beachfront “sanctuary” in Haleiwa for $7.8 million in 2017, according to the Wall Street Journal. After owning the property for about eight years, he is now ready to part with it. However, Slater has had to lower his expectations, recently reducing the price by $3.5 million to $17.5 million in an attempt to draw interest from potential buyers.
Located on the highly sought-after Papailoa Road, the 7,680-square-foot compound is Slater’s most expensive listing. In addition to its prime location with stunning views of the ocean from the backyard, the property offers several luxurious features. The main house boasts six bedrooms, over seven bathrooms, an ocean-view balcony, and direct access to 101 feet of private shoreline. The compound also includes a large swimming pool that mirrors the turquoise hues of the ocean.
Slater has a personal connection to Oahu, particularly Papailoa Road, where he and his friends would often stay during surfing trips to Hawaii. This connection led him to purchase the property when it became available, even though he already owned a condo just three miles away. This is not the first time Slater has tried to make use of the property—just a year after buying it, he put it on the rental market. The original rental price was $80,000 per month, but by 2020 it had dropped to $45,000 per month. Despite his desire to sell the property, it is believed that Slater’s decision is not financially driven.
In addition to his real estate investments, Kelly Slater has built a multimillion-dollar business empire. In an interview, Slater shared a missed opportunity from the 1960s, when his parents nearly purchased a large portion of the town of Telluride, Colorado, which could have made them billionaires. Despite that missed chance, Slater has successfully ventured into various business arenas.
Beyond the Hawaii home, Slater owns several other properties, including a unique private surfing ranch in Lemoore, California, which reportedly cost him $30 million to develop. This surfing ranch is a business venture rather than a personal residence, with rental rates ranging from $7,000 to $70,000 per day during peak season. Since entering the real estate market in 2015, Slater has acquired multiple properties.
In addition to real estate, Slater is an angel investor in six companies, according to Pitchbook, and has invested in startups. In January 2024, he invested in the startup Phi. He also owns several businesses, including the surfboard manufacturer Endorphins and the energy drink brand Purps, among others.
Although Slater had always dreamed of living in Oahu, describing the experience as a “throwback to my childhood,” he admitted that the property was “a bit more house than I need.” With the price reduction, it remains to be seen whether Slater will attract buyers or need to lower the price further to close the sale.
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