Palm and Hibiscus are two of the three man-made islands off the MacArthur Causeway, completed by Army Corps dredging in 1922. Palm is 82 acres and roughly 136 homes; Hibiscus is 69 acres. Both are gated with 24-hour guarded security at the causeway approach, and both are administered together with Star Island by a single body — the Palm-Hibiscus-Star Islands Association, whose membership is voluntary at $950 a year, funding Miami Beach police officers, cameras, licence-plate readers and advocacy.
That shared administration is also why records pulled at “neighbourhood” level blend all three islands. If someone shows you a Palm Island statistic, ask whether Star and Hibiscus are inside it.
Palm Island — what has traded
$45 million — March 2025, 40 Palm Avenue. 14,930 square feet on seven-tenths of an acre with 100 feet of frontage, at roughly $3,011 per square foot. An island record, and notable for the velocity: the same house had recorded at $37.9 million in May 2024, ten months earlier. Built in 2023 by Chilean casino developer Claudio Fischer, bought by MetaWin founder Richard Skelhorn.
$23 million — November 2025, 16 Palm Avenue. About 9,200 square feet on eight-tenths of an acre with roughly 220 feet of south-facing frontage, built 1930, bought by Robert Rivani. It was relisted in spring 2026 around $27.5 million and went under contract in April.
$18.5 million — July 2026, 288 South Coconut Lane. Roughly 9,100 square feet on a third of an acre, facing the port rather than the open bay. The seller, Black Spruce’s Josh Gotlib, had paid $22 million in November 2024 — a $3.5 million loss in twenty months. Floyd Mayweather owned it from 2021 to 2024.
Also live: 145 Palm Avenue, a 1.3-acre double lot held by the Adrian family since the mid-1980s, cut from $59 million to $47 million in September 2025 and under contract in March 2026.
The widely-reported $150 million listing is 190 Palm Avenue: an assemblage of three adjacent waterfront homes totalling 35,385 square feet on more than two acres with 300 feet of frontage, 21 bedrooms, three pools and three docks. Implied pricing is about $4,239 per square foot. It is all-or-nothing — the owners have said publicly they will not break it up. It is not on Sunset Island and not on the Venetian Islands, both of which get named in coverage. Separately, a genuine $110 million compound is listed on Sunset Islands III, and the $150 million Tarpon Island sale was Palm Beach, a different county. Three different properties, constantly conflated.
Verified 3 August 2026. Source: The Real Deal, 2 December 2023, relisted January 2025. Assemblage history: $3.45M (2004), $13.9M (2019), $17M (2021).
Hibiscus Island — what has traded
$40.3 million — August 2024, 101 North Hibiscus Drive. 10,800 square feet on half an acre at roughly $3,731 per square foot, a record for Hibiscus and Palm at the time by $250,000. The lot had been bought in 2011 for $3.8 million and asked $29 million in 2018.
$31.8 million — July 2025, 370 South Hibiscus Drive. 10,800 square feet with 122 feet of frontage, built 2016, previously bought at $26.5 million in 2021. Listed at $37.5 million in November 2024 and sold 15% under ask after eight months.
$15 million — September 2024, 345 North Hibiscus Drive. A 1952 house on half an acre sold as a teardown to a Dubai buyer. The family had owned it since 1978, when they paid $300,000.
The listing agent on the $31.8 million sale put the market plainly: everybody wants new product, nobody wants to do work. The 15%-under-ask resale and the $15 million teardown both fit that.
We could not verify a single Hibiscus Island single-family closing in calendar 2026 in any credible trade source. That is not the same as zero activity — it may simply be unreported — but it sits against thirteen active listings on a small island, a deep listing book relative to trade volume. Treat anyone quoting you 2026 Hibiscus comparables with scepticism and ask where the number came from.
Verified 3 August 2026. Source: Compass active listings accessed 3 August 2026; trade coverage reviewed across The Real Deal, PROFILEmiami, Robb Report and the Miami Herald.
The current Hibiscus ceiling listing is 360 South Hibiscus Drive at $49.5 million (8,300 square feet), followed by 375 North Hibiscus at $42 million. Palm’s conventional ceiling listing is 130 Palm Avenue at $60 million.
Lot sizes, and why they matter here
Palm Island is bifurcated. Palm Avenue — the bay-facing spine — runs roughly 0.69 to 0.81 acres. Coconut Lane runs 0.14 to 0.20 acres. That is a four-to-five-times difference in land on the same island, and it is most of the explanation for any price gap you see. Hibiscus lots run roughly 0.21 to 0.45 acres, clustering around a quarter-acre.
What to check before you buy on Palm or Hibiscus
Short-term rentals are prohibited in all Miami Beach single-family homes — under six months and a day. The prohibition stands even though the fine schedule was struck down in 2019.
The seawall ordinance. New seawalls must reach 5.7 feet NAVD (or 4.0 engineered to be raised), triggered by new construction, overtopping, disrepair affecting a neighbour, or repairs at $300 or more per linear foot — a threshold most real repairs clear. Sixty days to show progress, 730 to complete.
The islands are mid-reconstruction. Miami Beach has a $48 million Palm and Hibiscus right-of-way programme — road raising, drainage, pump stations, gutters, lighting, undergrounding preparation and a multi-purpose path. The city’s own status page is contradictory, with a header reading “In Construction” against a “Project Completed” note and no update posted since July 2021. Ask the city directly what remains on your block. Miami Beach has also faced litigation from owners alleging road-raising pushed stormwater onto private lots — documented for the programme generally, not confirmed at the island level.
Watch the entity names. The buyer of 345 North Hibiscus Drive is an LLC literally called “345 Palm Island Miami LLC.” It is a Hibiscus property. Mis-filing that in a comparable set is an easy and expensive mistake.
Palm Island and Hibiscus Island — frequently asked questions
Where is the $150 million Miami compound?
190 Palm Avenue, Palm Island — an assemblage of three adjacent waterfront homes totalling 35,385 square feet on more than two acres with 300 feet of frontage, 21 bedrooms, three pools and three docks. It is offered all-or-nothing. It is frequently and wrongly attributed to Sunset Island or the Venetian Islands. A separate $110 million compound is genuinely listed on Sunset Islands III, and the $150 million Tarpon Island sale was in Palm Beach County.
Are Palm and Hibiscus Islands gated?
Yes — both have a gated entrance with 24-hour guarded security at the MacArthur Causeway approach. They are administered together with Star Island by the Palm-Hibiscus-Star Islands Association, whose membership is voluntary at $950 per year and funds police officers, cameras and licence-plate readers.
What is the record sale on Palm Island?
$45 million in March 2025 for 40 Palm Avenue — 14,930 square feet on 0.7 acres with 100 feet of frontage, about $3,011 per square foot. The same house had recorded at $37.9 million ten months earlier. On Hibiscus, the record is $40.3 million for 101 North Hibiscus Drive in August 2024, roughly $3,731 per square foot.
Why do lot prices vary so much on Palm Island?
Because the island is bifurcated. Palm Avenue, the bay-facing spine, runs 0.69 to 0.81 acres. Coconut Lane runs 0.14 to 0.20 acres. That is a four-to-five-fold difference in land on the same island, and it explains most of the price gap you will see between addresses.
Sources
- The Real Deal — Palm Island neighbours combine homes for $150M listing, 2 December 2023
- The Real Deal — Online gaming mogul pays record $45M for Palm Island mansion, 5 March 2025
- The Real Deal — Builder Pedro Adrian selling $47M Palm Island estate, 16 March 2026
- The Real Deal — Hibiscus Island home sells for record $40M, 29 August 2024
- The Real Deal — Ex-Univision CEO sells Hibiscus Island mansion for $32M, 21 July 2025
- The Real Deal — Dubai buyer drops $15M on Hibiscus Island teardown, 27 September 2024
- Palm-Hibiscus-Star Islands Association — memberships
- City of Miami Beach — Palm and Hibiscus Islands right-of-way improvements
- Miami Beach Rising Above — Seawall FAQs and Ordinance 2025-4754
Related coverage
Part of Neighborhoods.