Luxury travelers never had it so good. The Financial Times’ monthly magazine, How to Spend It, recently focused on the increasing popularity of purchasing islands. While motivations to own a private island once revolved around status recognition, it is turning into something more than that. Island owners such as Johnny Depp, Leonardo DiCaprio and other celebrities are running to their secluded homes to avoid being the next cover story of STAR magazine.

Remote (Island) Control

Owning your own island or even a house on an island is quite the investment. Aside from the millions you spend to acquire the property, importing construction materials can cost up to $4,000 per hour. Finding people who are willing to build on the secluded island costs even more.

A more sensible approach to privacy and exclusivity has long dwelled with destination clubs or private residence clubs. Clubs such as Exclusive Resorts and Ultimate Resort have residences on islands, meaning that you’ll get to vacation in privacy, for a fraction of the price that island owners are paying. Popular island destinations are in the Caribbean, Hawaii, Kiawah Island, and Vancouver Island. Although a home in Maui may not be as secluded as a home in Barama Bay, settling in better-known areas saves a lot of energy that might otherwise be used in seeking the perfect island.

Cheyenne Morrison of Coldwell Banker Morrison’s Private Island in Australia mentions some food for thought; consider whether the host country is comfortable with foreign investment, and whether the island comes with unencumbered freehold.

Know Your Luxury Options

• Decision Guide to Destination Clubs
• Decision Guide to Private Residence Clubs