Not all the waves in Hawaii are offshore; some are sweeping through the residential real estate market.

“We have had some serious celebrity buying and selling activity over here,” said David Robins of locally owned Prudential Locations in Honolulu. The cast and crew of “Lost,” the hit ABC show now in its third season of filming on Oahu, have contributed to the frenzy. The latest to join the landed is Daniel Dae Kim, who plays Jin-Soo Kwon and was voted one of the sexiest men last year by People magazine.

The 38-year-old actor bought a 3,500-square-foot house on Oahu that has four bedrooms, an office and a media room. He reportedly paid about $1.5 million.

Here are some Hollywood movers and shakers who are contributing to the Hawaiian buying and selling spree:

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– Actress Cameron Diaz and singer Justin Timberlake bought a beachfront estate, built in 1978, with 12 bedrooms and nine bathrooms in slightly more than 11,000 square feet, according to local real estate agents. The property sold for close to its $16.9 million asking price.The home, on about 1.5 acres on windward Oahu, has 100 feet of oceanfront. It includes the land, which in many cases in Hawaii is leased.

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– Media czar David Geffen had two oceanfront lots for sale on Kahala Avenue, one of the most upscale streets in Honolulu. One was offered at $40 million. The other, smaller lot was listed at $13.5 million. A computer company just purchased the larger site for $35 million.

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– A home built on part of the former estate of steel magnate Henry Kaiser is on the market at $20.5 million. It overlooks Maunalua Bay and Diamond Head. Many celebrities of Hollywood’s Golden Era stayed at the Kaiser estate. The property has sweeping, landscaped views. It’s in the Portlock neighborhood, which has a widely known surf spot called China Walls.The estate is at the base of Koko Head Crater, a dormant volcano. The house, built in 2005, has 10,000-plus square feet.

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– Actress Michelle Pfeiffer and her husband, writer-producer David E. Kelley, also have an interest in Hawaii: a beachfront home they listed in March at $12.9 million. It’s still for sale at that price.The 4,400-square-foot house is on Lanikai, one of the best beaches in the world, according to Dr. Beach — Florida International University Professor Stephen Leatherman. It’s been said that making his “America’s Best Beaches” list (www.drbeach.org) is akin to winning an Oscar.

The house, built in 1950 on the windward side of Oahu, has six bedrooms, five bathrooms and 140-plus feet of sandy beachfront. The guest quarters have been restored.

– Earlier this year, actors John Travolta and Kelly Preston sold their oceanfront Oahu home with a sandy beach and an indoor pool to fitness expert and actress Kathy Ireland for about $3 million. Travolta purchased the property in 1986. The home is in the Niu Beach area.

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– Maurice J. Sullivan, founder of the Foodland grocery stores, constructed a 5-acre compound on Oahu that is listed at $29 million. The home, a mecca for celebrity guests, was remodeled in 2003. The compound, with six bedrooms and nine bathrooms in 4,000-plus square feet, has a main house with a pool and many cottages.– There is buzz among local real estate agents that Microsoft’s Bill Gates is planning to build a home on Oahu and has purchased the site.

Source:

http://www.sfgate.com/cgi-bin/article.cgi?f=/c/a/2006/11/19/REG0RMDGHK1.DTL