Who buys private islands? This BC realtor has sold over 30 of them

Mark Lester/Colliers International

Private islands — those elusive paradises we dream about, conjuring images of sipping cocktails under the sun in total seclusion — are a pretty common sight off the coast of Vancouver Island.

Owning one seems like the stuff of legends, whispered about over pints at the pub, as we wonder which dead rockstars faked their deaths and are now lounging on some far-off shore.

Off the coast of Vancouver Island, some private islands are actually cheaper than some homes, and while, yes, the buyers tend to be high-profile and high-income people or families, a real estate agent with close to 30 years of experience selling islands tells Daily Hive that some buyers may surprise you.

Breakwater Island was recently listed by Lester for $14.9 million, which Lester said is “pretty good value for a private island of this size. (Colliers International)

Mark Lester, a seasoned real estate agent specializing in the sale of private islands, has facilitated the acquisition of many exclusive properties since the late ’90s, including Moresby Island, Port Sidney Marina, and Mount Baldy Ski Resort.

Lester’s expertise encompasses the unique challenges of private island ownership, including development regulations, upkeep, and lifestyle considerations. Still, he remains bullish on the allure of private islands for those who can afford it.

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“I understand the systems private island owners deal with,” he said. “Some islands have submarine cables and hydroelectric power, but most are off the grid, relying on solar panels, inverter systems, and other technologies to function like you’re in the city — without being in the city.”

Of course, private island ownership isn’t within everyone’s reach, and even buying a home in BC can be challenging.

However, Lester notes that interest in private islands span a broad spectrum: “All across the board,” from high-profile celebrities and conservancy groups to those seeking to build a commune or resort. “One guy wanted to name an island after himself,” he said.

The average price of a home in Victoria was $847,900 in January; meanwhile, Clam Shell Island was listed at $845,000 in June. (Colliers International)

Private islands off the coast of Vancouver Island can range drastically in price.

“I’ve sold islands for a half million, and I’ve sold islands for more than 40 million,” he said. “Some are legacy properties that have been in the same families for years and years.”

For those concerned about the possibility of these private islands becoming resorts or the impact of foreign investment, Lester reassures that the Islands Trust Act — a provincial act ensuring the conservancy of the Gulf Islands — would prevent such developments.

Additionally, the zoning regulations alone make such projects impractical.

“I’ve had numerous people over the years say that they wanted to build a resort on an island, and my reaction is that it’s very, very unlikely you’d ever get something like that approved,” he said.

Pym Island, listed for $7 million in May, included a beautiful house with 12 bedrooms and 12 baths. (Sotheby’s International Realty)

Recently, Lester says he has been receiving more inquiries from conservancy organizations with donors aiming to protect the ecosystems of these small islands. In the past year, a few conservancy groups have bought islands in BC order to protect them.

However, despite the high-profile nature of some buyers, Lester says discretion is a crucial part of his job and he cannot disclose any names. “They’re definitely people you would recognize, though,” he said.

“They are people who would be considered well-known.”

While the dream of owning a secluded paradise remains out of reach for most, the ongoing interest and responsible stewardship of these islands underscores the underlying philosophy of Vancouver Island writ large: conservation.

Whether for personal retreat or ecological preservation, private islands continue to offer a rare glimpse into an extraordinary way of life, one that appears to blend the luxurious allure of isolation with the responsibility of guardianship — hopefully, one that isn’t just reserved for the ultra-rich.