Update: Julia Roberts knocks $4M off her Hawaii vacation rental

Update: Julia Roberts knocks $4M off her Hawaii vacation rental
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Update, Aug. 25, 2015: A few days ago, Julia Roberts knocked down the asking price of this estate to an even $26 million -- still nearly double what she paid for it in 2011. This post was originally published on April 7, 2015.

CLICK A PHOTO FOR A SLIDESHOW.
CLICK A PHOTO FOR A SLIDESHOW.

Actress Julia Roberts is selling her historic 2-acre property on Kauai's North Shore in Hanalei, Hawaii, reports the local Pacific Business News.

She's asking $29,850,000 for what's known as the Fayé estate, a double-lot property that dates back to 1915 and sugar plantation executive Hans Peter Fayé (pronounced fie-ah, according to the now defunct Honolulu Star-Bulletin).

She bought it in late 2011 for $13,375,000, down about $5 million from its asking price.

The estate has a six-bedroom main house, built for Fayé and his eight children as a summer house, and a one-bedroom cottage. (Click here or on a photo for a slideshow.)

Both are being operated as vacation rentals: The main house goes for $1,500 a night and up, the cottage for $350 a night and up.

A huge lawn stretches all the way to the beach, though the house wasn't always set back so far. "In 1957, a tidal wave swept through the bottom floor and pushed the whole house back to the middle of the property," according to a history of the estate. "The upper floor tilted, but remained intact. ... Alan Fayé brought his workers from Waimea Sugar over to clean up the debris. When the rebuilding took place, the top story of the big house was jacked up where it was (only one door was reportedly damaged) and a new bottom floor was built with a new floor plan."

The cottage was built from the wreckage, the history says.

The property's acreage might allow for as much as 9,000 square feet of living space, according to the listing; the main house and cottage add up to about 3,800.

And if you can't afford to buy, the main house and the cottage both appear to have a few summer vacancies left.

Click here or on a photo for a slideshow of Julia Roberts' Fayé estate, listed at just under $30 million.

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On a related note, Roberts' breakout movie, "Pretty Woman," just turned 25:

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