Owings Mills company buys Obama’s Hawaii vacation home
Posted: 7:55 pm Wed, August 25, 2010
HONOLULU — The beachfront Hawaii home rented by President Barack Obama and his family during their last two Christmas vacations has been sold for $6.9 million.
The 4,900-square-foot, five-bedroom, single-story estate on Kailua was sold to Paradise Point Estates LLC, a company managed by Glenn Weinberg of Owings Mills.
Despite the sale, “the new owners are hoping that [Obama] will come to visit,” said Joel Cavasso, listing agent for Century 21 Kailua Beach Realty.
Weinberg is the nephew of Hawaii real estate baron Harry Weinberg, who was once the largest landowner in Hawaii.
The home has access to beach swimming, a stone-encircled swimming pool, enhanced security sought by the Secret Service and an open-air sitting room with views of a grassy lawn and the Pacific Ocean.
The property last sold for $9 million to a Houston man in 2007, according to city tax records. The listed price for the property was $7.95 million, but it sold for about $1 million less.
“It was a fair price,” said Cavasso, who noted that similar homes in the neighborhood recently sold for $6.8 million to $7.5 million.
The buyers have never met Obama, but his interest in the property may have piqued theirs, he said.
“They were not straw buyers,” he said.
Weinberg and his wife, Debra, have contributed at least $73,000 to mostly Democratic politicians over the last decade. Their political donations never went to Obama, but they helped fund many other Democrats including U.S. Sen. Daniel Inouye, D-Hawaii; U.S. Rep. Mazie Hirono, D-Hawaii; U.S. Sen. Dianne Feinstein, D-Calif.; and U.S. Sen. Barbara Mikulski, D-Md.
Only four of the 23 political committees to which Glenn Weinberg contributed from 2000 to 2010 were Republican, according to Federal Election Commission records. None of Debra Weinberg’s donations went to Republicans.
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