The cost of the purchase? $20.5 million.
For at least twenty years, and possibly longer, Carlos has been a supporter of Hawaiian real estate. His first significant Hawaiian property appears to have been purchased in September 1999, according to real estate records. The comeback album “Supernatural,” which sold 30 MILLION COPIES and went on to win EIGHT Grammys, was released exactly three months prior.
In 1999 Carlos paid $365,000 for an undeveloped half-acre plot of land steps from the Ritz Carlton, Kapalua. Carlos continued to construct the subsequent 5-bedroom, 7,200 square foot estate as those “Supernatural” riches poured into his mailbox:
He advertised the aforementioned house for $7.5 million in 2012. That price ultimately proved to be very optimistic and Carlos accepted $4.9 million two years later.
In 2013 Carlos decamped from Hawaii to Las Vegas where he paid $6 million for a multi-structure property down the street from a $3 million home he already owned. It was the fifth most expensive house purchase in Las Vegas history at the time and had the highest price per square foot that year.
The move to Las Vegas made sense because in February 2012 Carlos announced the launch of what would prove to be a very lucrative residency at the House of Blues Mandalay Bay. After a break for COVID, I believe this residency is still active.
This 8,000 square foot home, which sits on little under an acre, was constructed entirely new by the sellers in 2006.
The sellers paid $1.6 million for the site in 2004, then spent $18 million building this dream home, according to the Wall Street Journal:
Therefore, as of the time of writing, Carlos technically has THREE Kauai mortgages totaling about $32 million in real estate.
Moreover, that number might soon fall to two mortgages. Additionally, according to the WSJ, Carlos intends to list his $8 million property, which he bought in April, for $13 million. For 14 months of labour, the profit was not awful.