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Why Neil Young is selling this $24.5 million estate in paradise

Neil Young Opening Night Reception For "Special Deluxe" Art ExhibitionNeil Young Opening Night Reception For "Special Deluxe" Art Exhibition
Musician Neil Young.Photograph by Angela Weiss — Getty Images

Neil Young doesn’t want to wait until after the gold rush, so he’s selling his Hawaii estate before the market tops.

According to a report in Bloomberg, the legendary rock musician is listing his nearly 3,000 square-foot, five-bedroom, four-and-a-half-bath estate on the Big Island of Hawaii. The property also features two guest cottages, and “830 feet of prime ocean frontage is located on the Kohala Coast near the world class surf break and white sandy beach known as 69’s,” according to the listing.

The likely reason Young is selling the estate–on an island he once wrote had powers of “magical healing,” is simply business. According to Bloomberg:

Homeowners in Hawaii are seeking to capitalize on demand from wealthy California technology executives by listing opulent estates, leading to a record number of $20 million-plus homes for sale . . .

Just as the Hamptons have long been a retreat for Wall Street executives, Hawaii is becoming a favored playground of Northern California’s wealthy digerati, though they have to get on a plane rather than drive a couple of hours. Property prices in the Aloha State have soared past the heights of the last housing boom as buyers seek island getaways.