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Luxe estate on Larry Ellison's island of Lanai available for $8.8M Luxe estate on Larry Ellison's island of Lanai available for $8.8M The co-founder of Oracle has snapped up about 98 percent of the property on Lanai, HI, but one home he doesn't own is now available for $8.8 million. Claudine Zap, provided by FacebookTwitterEmail On the tiny Hawaiian island of Lanai, population 3,100, there are no traffic lights. It does have high-end luxury resorts, and one very high-profile resident, who happens to own most of the island. The billionaire Larry Ellison is the majority owner of the smallest inhabited island of Hawaii, and he recently announced that he's making Lanai his full-time home.