Obama's Hawaii Retreat: Available for Rent

Barack ObamaPresident Barack Obama, who will be on vacation on the Hawaii island of Oahu through Jan. 2, is staying with his family at the 5-bedroom, 5.5-bath rental home he has vacationed in for the past three Christmas holidays. If you can cough up $3,500 per night, you, too, can rent the private oceanside retreat.

"The home is next available for rental as of March 20, 2011," owner-manager Glenn Weinberg told AOL Real Estate. "The rental rate varies depending on the season, the number of days the home is rented and market conditions." It is currently listed on HomeAway.com.
But don't let the nightly rent for this home with 4,951 interior square feet have you thinking maybe you can get together with 10 friends and rent it for a day for your bachelorette party.

Weinberg, who bought the home in the name of his Paradise Point Estates LLC, a company he manages, requires a one-week minimum stay. "But I have had people rent it for as many as 35 days," says Weinberg of Owings Mills, Md., a Baltimore suburb.

Weinberg says he bought the home, known as Plantation Estate, on July 9 for $6.9 million, which was practically a
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steal from the former owner, a Houston man who purchased it in January 2008 for $9 million. At different points for nearly two years the previous owner had listed it for $8.9 million and $7.95 million, according to ABC News.

"It is one of the most beautiful homes on all the islands....Just looking at the ocean from there and the mountains, it is just breakthtaking," said Weinberg, who lists details at ParadisePointEstates.com.

The home, which sits on a deadend road with few other homes, has a three-car garage, a media room with a 60-inch flat-screen TV with speakers embedded in laser-carved mahogany leaves. The center courtyard of the estate features a secluded lagoon-style pool pavilion, including tropical waterfalls. Throughout the home there are stained glass, natural stone tiling, and African mahogany carvings.

First Lady Michelle Obama and daughters Malia and Sasha, arrived Saturday, with dog Bo in tow, ahead of the president, who arrived late Wednesday night. Weinberg, who plans a stay there next, says due to local residential zoning clauses he can only rent it out once every 30 days, regardless of the length of the contract. He and his family, which includes a recent high school graduate, plan to spend about 60 to 90 days total at the estate -- when it is not in use by renters, of course.


Want to know how to deal with other
rental issues? Here are some AOL Real Estate guides that can help:

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