Luxury 34-acre estate with private path leading to Secret Beach in Hawaii will head to auction with NO minimum reserve if it doesn't sell on the open market for $50 million by September
NEW A 34-acre luxury property on Kauai's north shore with near exclusive access to its famed Secret Beach is heading to auction in September if it doesn't first sell for its $50million list price. The auction has no minimum reserve, meaning it could sell for as little or as much as the bidders dictate. Seller Michael Shotey, founder of electrical products company Taymac, said he wanted to sell because his family is not around enough to enjoy it. They originally purchased the property for $10.75million in 2012. In addition to beach access, the piece of real estate features a villa and two small vacation rental cottages.