Scenic Hawaii island mansion snapped up for fraction of price

It was a somewhat over-the-top mansion built on an oceanfront bluff in North Hilo, but it didn’t sell for an over-the-top price.

New York-based luxury real estate firm Concierge Auctions announced in March that it had sold a heavily marketed estate dubbed Water Falling at auction for an undisclosed price after a prior effort that listed the home for $26.5 million.

Recently published property records show the estate sold for $5.75 million to a couple from Kansas City, Mo.

Local real estate firm Hilo Brokers Ltd. assisted Concierge with the auction.

Developer Scott Watson and business partner Laurie Robertson built Water Falling a few years ago on nine acres zoned for agriculture and transformed the site once planted in macadamia nut trees into what Concierge called an "architectural masterpiece."

The estate overlooking a 250-foot cliff with a waterfall includes an 8,100-square-foot mansion, a helipad with three landing spaces, a golf course, an Olympic-size infinity pool and a tennis and basketball court with seating for 450 spectators.