Private Island Life
The idea of living on an island is an elusive dream for many, but for those who can afford it, it can be a reality. Whether it’s to escape the crowds during vacation or raise a family in complete solitude, an island offers the promise of a tranquil existence. But owning one also comes with its share of quirks. From having no neighbors to knowing where to find the best food and ensuring a reliable supply of electricity, there’s a lot to think about when planning to move to your own paradise.
Unlike mainland waterfront property, which can be found almost anywhere in the world, islands are a limited commodity. And they can be far more expensive. In fact, a private island can cost as much as a luxury Manhattan penthouse. The perks of island ownership are numerous: a sense of seclusion, the ability to watch wildlife in its natural habitat and, of course, the opportunity to build a private oasis with all the trimmings.
But there’s a lot that goes into owning an island, including the need to have personal chefs, housekeepers, caretakers, boat captains and everything in-between. It’s a lifestyle that requires an extraordinary amount of resources, which is why most island owners are wealthy—and there are plenty of celebrities who own their own private retreats including Johnny Depp, Tyler Perry, Faith Hill and Tim McGraw, Nicholas Cage and others.
Even though the coronavirus pandemic has halted most leisure travel, private island rentals and purchases are still on the rise, especially among high net worth individuals who want to stay close to home in opulent seclusion. Chris Krolow, CEO of the Canadian real-estate company Private Islands, says that his firm receives an average of 150 inquiries a day from people interested in buying or renting their own private island. He adds that his firm, which rents and sells more than 800 islands worldwide, is getting a lot of interest from the Duke and Duchess of Cambridge, who have opted to stay on their two estates in the Bahamas instead of returning to London during their royal honeymoon.
As a former island owner himself, Davis emphasizes to agents and buyers that there are many logistical considerations to take into account when selling or renting a private island. He reminds them that an island isn’t just a piece of land with water and that it has its own ecosystem, often requiring a lengthy environmental impact study before building on the land can begin. And it’s not just buildings that require consideration, but a solid internet connection, self-sufficient water systems, a workforce to maintain the infrastructure and a steady supply of groceries.
He adds that an island owner must remember to stock up on supplies when traveling to the nearest city, and ensure there is a hospital and airport nearby in case of emergencies. But for those who are prepared for the challenges, the benefits of owning an island outweigh the complexities, and island life is truly a luxury.