Julia Roberts' Kauai Beach Home Reduced to $21.95M

For the second time, actress Julia Roberts cuts the price tag of her Hawaii home to $21.95 million from $26 million, Realty Today has learned.

Roberts' oceanfront property located in Kauai's North Shore was first enlisted for $29.85 million last spring of 2015, and then cut by August of 2015 to $26 million, as per Neal Norman, a listing agent of Hawaii Life Real Estate Brokers, according to Pacific Business News.

Purchased in 2011 for $13.4 million, as per public records, this 2-acre property is considered one of the biggest on Hanalei Bay, Hawaii News Live says. Colored red with white trim, the house has five bedrooms, each measures 3,790 square feet. The whole property parcel has 215 feet of beachfront and has an overlooking view of the mountains. The property has a guest cottage with two bedrooms and a large yard leading to the beach, according to The Wall Street Journal. It was once a home to a prominent manager of Kauai sugar plantation, Hans Peter Faye, according to the listing.

Meanwhile, many might have wondered what took Roberts so long to have the property purchased after dropping the price twice already in less than a year. Yet, Hawaii Life Real Estate Brokers have their own take on this.

"The pace of sales in the Kauai real-estate market is still slower than the boom years of the mid-2000s. There is no real urgency in the market," Norman said, citing that there have been some huge purchases in Kauai, but just don't happen frequently. Roberts property might not be one of them.

Amid real estate speculations, reporters could not reach Roberts for comments.

Moreover, while Roberts is leaving Kauai's North Shore any time soon, some celebrities such as Chuck Norris, James Jannard, Mark Zuckerberg, Pierce Brosnan, Bette Midler, and Ben Stiller, among others, are drawn to the place and recently bought a property in the area, Pacific Business News noted.