Obama's Hawaii rental sold

President Barack Obama’s rented beachfront Hawaii home has been purchased for $6.9 million.

The single story, five bedroom, 4,900-square foot Kailua estate was sold to Paradise Point Estates LLC, a company run by Glenn Weinberg of Owing Mills, Md.

Century 21 Kailua Beach Realty listing agent Joel Cavasso says the new owners hope Obama will continue to stay at the property.

Cavasso states that while the buyers have never met Obama, his interest in the property may have peaked theirs.

The property was listed at $7.95 million, but it sold for about $1 million less.

Source: Associated Press