Schultz, 73, who is best known as the former CEO of Starbucks, offloaded the estate on July 30, according to property records.
Former Starbucks CEO Howard Schultz has offloaded his longtime Hawaii sanctuary for the staggering price of $36 million—just months after he invested $44 million in buying a luxury residence in Florida.
Schultz, 73, who has an estimated net worth of $3.5 billion, according to Forbes, has now made another significant shuffle of his property portfolio, letting go of his waterfront retreat in the Hualālai Resort community in an off-market deal that was first reported by the Wall Street Journal.
While the identity of the buyer has not been revealed, listing agent Robert Kildow of Hualālai Realty told the outlet that the new owner—who closed on the home on July 30, according to property records—already owned a smaller dwelling in the community but had been looking for a larger retreat in which to house their growing family.
Kildow added that the buyer agreed to the sale during a FaceTime call.
The 1.8-acre estate, which spans two adjacent parcels in the luxurious waterfront community, went into contract just one week after the agent began quietly marketing it. It was never formally listed on the multiple listing service.
Because the property was never publicly listed, there is little information available about the upgrades and changes Schultz made after snapping up the estate for $25 million in 2015.
However, it's understood that the property was home to eight structures, which totaled about 15,400 square feet of living space, including eight bedrooms.
Former Starbucks CEO Howard Schultz has offloaded his Hawaii sanctuary in an off-market deal for $36 million. (Gregg DeGuire/Getty Images) 
Listing agent Robert Kildow of Hualālai Realty told the Wall Street Journal that the buyer previously owned a smaller home in the community and was searching for a larger home for their growing family. (M Swiet Productions / Getty Images) The sale smashes the record previously set for a residential real estate deal in the Hualālai, which previously stood at $30.2 million, according to Kildow.
It marks the second major real estate move that the businessman has made in the past few months. In March, he announced that he was officially leaving his longtime home state of Washington and moving to Florida, sharing the news on the same day that the state House approved a proposed income tax bill that would affect anyone living in Washington who earns $1 million or more.
Schultz made no mention of the tax when he announced his move in a post on his LinkedIn page on March 10, the same day he is said to have closed on the purchase of a palatial property in an oceanfront building in the tony Miami community of Surfside.
That month, he and his wife, Sheri, splashed out $44 million on a sprawling five-bedroom penthouse in the Surf Club, Four Seasons Private Residences in Florida. The luxurious building overlooks the ocean.
Despite the extraordinary price tag attached to the penthouse sale, Schultz and his spouse did in fact get the dwelling for something of a steal—at least when compared to the sky-high $55 million asking price it was initially listed at in November 2024.
Records show that the ask was lowered to $49.9 million in October 2025, five months before the unit was sold.
Just as the sale of the property closed, Schultz took to LinkedIn to announce that he and his spouse had relocated to Florida, having spent the past four decades residing in Seattle, where Starbucks is headquartered.
Schultz recalled the moment that he and Sheri arrived in Seattle from New York City, revealing that they traveled across the country with their beloved golden retriever, Jonas, in their 1979 Audi, before settling down in Washington—where his wife was initially the "breadwinner in the family."
"And I started a new job on Sept. 7, 1982, at a place called Starbucks. Back then, the Pike Place Starbucks only sold whole bean coffee. Today, it’s the most visited Starbucks in the world," he wrote.
While noting that he and his wife still hold a very close personal connection to Seattle, he said that they chose Florida as their new base because of its balmy weather and its proximity to the East Coast, where their children live.
"For those of you who know us well, we have entered the 'retirement' phase of our lives (a term we are both just getting used to)," he went on. "Last year we traveled to dozens of places around the world—places we were too busy to see when building Starbucks and raising kids.
Months after trading Seattle for Florida, the billionaire has let go of his waterfront property in the Hualālai Resort community. (Florida penthouse seen) (Getty Images) 
Although Kidlow did not identify the buyer by name, he did share that he agreed to snap up the property over FaceTime. (Santiago Felipe/Getty Images) "And we have moved to Miami for our next adventure together. We are enjoying the sunshine of South Florida and its allure to our kids on the East Coast as they raise families of their own."
He confirmed that the couple have moved their family office to Florida—adding that their charitable organization, the Schultz Family Foundation, will remain headquartered in Seattle, where it will be overseen by "our dear friend Vivek Varma."
"We will be forever grateful for the memories made in Seattle and the relationships built along the way. To the family, friends and partners who made Seattle our home for so many years, thank you," he concluded.
With the move, Schultz joins a growing list of billionaires who have relocated to Florida in recent months. Many, including Sergey Brin, Mark Zuckerberg, Larry Page, Peter Thiel, and David Sacks, had previously been based in California—with their relocations to the Sunshine State seemingly motivated by a desire to escape a proposed billionaire tax that is currently being weighed by the Golden State.
While Schultz would not have been affected by the billionaire tax, which will see anyone with a net worth of $1 billion or more whose primary residence was located in California on Jan. 1, 2026, being subjected to a one-time wealth tax of 5%, he will likely enjoy many lucrative benefits as a result of his move to Florida.
Not only would Schultz have been affected by Washington's Millionaires Tax—which is due to go into effect in 2028—he will also benefit significantly from Florida's lack of income tax on residents.
After Amazon CEO Jeff Bezos announced in 2023 that he and his wife, Lauren Sanchez Bezos, were relocating their primary residence from Washington to Florida, it was estimated by CNBC that he was likely going to save "at least $610 million."
Schultz will likely not see significant savings on the scale of Bezos, who has an estimated net worth of $281.3 billion, but he still stands to benefit financially from his move.
The former Starbucks exec has not yet revealed what he plans to do with his longtime Seattle mansion, which he and his wife are understood to have purchased in 1997.
Located in the exclusive Madison Park community, the expansive abode overlooks Lake Washington and sits on a 1.9-acre parcel.
According to property records, the dwelling is currently not on the market—nor has it been publicly listed since it last traded hands for $3.4 million nearly 10 years ago. The mansion is currently registered to a limited liability company.