In April, eleven-time surfing world champion Kelly Slater put his Oahu’s North Shore compound for sale. Purchased for $7.8 million, Slater might have expected a quick sale given that the property in Hawaii covers an area of 7,680 square feet with ocean views and over 100 feet of private shoreline. Yet three months down the line, there was no buyer for it. The situation has remained the same last month, which led to Slater taking a key measure.

The oldest athlete in the World Surfing League, Slater’s star power in the surfing world is second to none. Yet even that wasn’t enough to help the Cocoa Beach native sell his oceanfront property. After owning the property for about eight years, he’s ready to part ways. Unfortunately, Slater may have to settle for less than he planned.

In July, it was reported that he was having a difficult time finding a buyer after putting the selling price at $20 million. As per a Realtor.com report, Kelly Slater slashed the price by $3.5 million at the end of the last month to a still-eye-watering $16.5 million to attract buyers. Located on the coveted Papailoa Road, the compound had ballooned into Kelly Slater’s most expensive listing. Besides the premier location and views of the blue waves from his backyard, the compound itself has a lot going for it.

The surfer bought the property in 2017 and paid $7.8 million for the six-bedroom Haleiwa beachfront “sanctuary,” according to the Wall Street Journal. The main house, with six bedrooms and over 7 bathrooms, offers beautiful views with an ocean-view balcony and direct access to 101 feet of private shoreline. The compound even houses a massive swinging pool that mimics the turquoise color of the ocean.

The other highlights of this 2001 property include a curving hardwood staircase tucked off to the side and glass doors spilling out to a covered lanai. Other highlights include a formal dining room, media room, and kitchen outfitted with natural wood cabinetry and an expansive island.

On the outdoors, the garden-laced grounds host a boardwalk spanning a pond, along with an infinity pool and hot tub bordered by a grassy lawn. It also includes a three-bedroom guesthouse with its own kitchen and living area, plus a one-bedroom apartment atop of a detached three-car garage. Meanwhile, the surfer also has a personal connection to Oahu.

WSJ reported that Slater and his friends would crash at a house on Papailoa Road. It was during those surfing trips to Hawaii that enamored the Florida native to Papailoa Road. So when decades later the property went up for sale, the surfer bought, despite already owning another condo just three miles away from the compound’s location. Interestingly, the previous owner tried to sell it for $22 million almost ten years ago before settling on the near $8 million Slater paid.

But he is now looking for a buyer and this isn’t the first time Slater has tried to do something with this oceanfront home.

Just a year after he bought the property, Slater put it up on the rental market. While the initial renting price started at $80,000 per month in 2018, it was reduced to $72,000 in 2019 and then $59,000 in the same year. In 2020, the price settled at $45,000. There was no update if anyone took up the rental at that offering.

In case, the property is sold off, Slater already has plans in place for where to go next. Earlier this year he told SURFER that he will be spending most of his time in Hawaii, which houses his other properties). He also mentioned that a visit to Australia for a good portion of the year is on the cards, as well as with his partner Kalani’s family in San Clemente, California.

The surfing legend’s eagerness to sell off the property could be surprising given his connection with the beaches from an early age. Though he has had to slash the price of his property, he has plenty of sound investments in his life.

Kelly Slater’s multimillion-dollar ventures

During an interview with Barton Lynch, the 52-year-old revealed that back in the 60s, his mother and father came close to buying half the town of Telluride, Colorado.

“My Mom told my Dad, let’s move to the mountains and live in the snow. My Dad was, like, no, I want to be at the beach. So, I mean, if we owned half of Telluride we’re probably be billionaires at this point,” Slater said. Had they made the purchase the Slaters might’ve become billionaires today because celebrities like Tom Cruise have owned ranches in the quaint ski town. If they had gone ahead with the purchase, would we have seen Kelly Slater take up surfing as a career?

“But our destiny, our fate, was to be at the beach. My Dad wanted to camp and fish and hang out at the beach and have a beer with the boys. So we ended up the beach and I wouldn’t change a thing,” he added. Despite the missed opportunity at Telluride, the athlete has built a business empire worth millions.

While the former world champion’s Papailoa Road compound is incredibly expensive, this is far from the only piece of real estate that Salter owns. The two-time X Games gold medalist owns a once-of-a-kind private surfing ranch in Lemoore, California. The New Yorker estimates the ranch to have cost the surfer $30 million to construct. However, it’s a business venture and not his home.

Renting the ranch for a day could cost anywhere between $7,000 and a whopping $70,000/day during high season. The Hawaii home on sale, on the other hand, is one of many properties the surfer has procured since entering the real estate investment market in 2015.

Besides owning multiple estates, the legendary athlete is also an angel investor for not one but six firms, as per Pitchbook. The surfer has also invested in start-ups. In January 2024, Kelly Slater invested in the startup Phi. The former world champion even owns businesses such as Endorphins, a surfboard manufacturer, the energy drink brand Purps, and many more.

Kelly Slater had always dreamt of living in Oahu. “A throwback to my childhood, coming over to Hawaii,” he told WSJ. However, the surfer also described the property as “a bit more house than I need.” However, it remains to be seen if the surfing icon attracts buyers after taking a $3.5 loss or if he has to go even lower.