The Hawaii retreat Cher has painstakingly revamped has gone under the hammer for $8.7 million.

The Kailua Kona property on Hawaii’s Big Island was auctioned off on Monday (Jan 18, 2010) and was expected to fetch up to $12 million.

However, the six-bedroom property sold at the lower end of the reserve price, as one of a group of five luxury homes, which fetched a grand total of $19.4 million. 

The house is positioned at the Four Seasons Hualalai resort and features panoramic ocean views, as well as four guest bungalows.

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