HONOLULU -- The most expensive house on Oahu is officially up for sale at $36 million.

It is the most expensive ever listed in Kailua. The house is built on 1.5 acres of land. It is set back from Kalaheo Avenue.

On the other side of the home, in front of Kailua Beach, there is a huge yard between the ocean and the house.

The Kerr-Michaels design is listed by Gold Coast Real Estate.

There were a number of real estate broker invited to Thursday's event to look the place over.

The home is nearly 11,000 square feet of home, 5,000 square feet of covered lanai and 3,000 more of open lanai.

It flows from inside to out much like the old style Hawaii houses.

The home has five bedrooms, five baths and a guesthouse with three bedrooms.

There is a pool and spa built into the lava rock.

The main home has windows everywhere with spectacular views.

Who would likely buy a home like this?

"What comes to mind to the laymen is it's a celebrity and that's rarely the case. Maybe 20 percent of the time in this type of property, although this is conducive because of the privacy, it's usually just a very successful businessman and usually very understated," said Jeff Kerr, of Gold Coast Real Estate. "This will most likely be, as hard as it is to believe, a second or third home."

Kerr pointed out that two Kailua homes that sold for $22 million and $24 million were a second and third home for the owners.