The island, covering 2.5 acres, is located eight miles from the mainland—about a 25-minute boat ride—and is fully self-sufficient, featuring water tanks and solar panels. Coppola had leased the island for nine years, up until last month, as confirmed by the Corcoran real estate agency, which managed the transaction.
“Mr. Coppola was very saddened that his lease ended,” broker Peter McLean told Mansion Global. “He deeply loved this island—it was a special place for him.” According to McLean, the director used to visit Coral Caye every three to six months.
The new owner is a businessman from Guatemala, who plans to transform Coral Caye into a luxury Maldives-style resort, with accommodations both on land and over the coral reef, connected by private wooden walkways. McLean noted that the new resort is expected to be completed within 12 to 18 months; however, the island continues to operate as a tourist destination with its existing facilities.
Currently, the island hosts three residences—the Great House, the Coral Cottage, and the Seahorse Cottage, named after the seahorses of nearby Mangrove Cove. Together, they can accommodate up to 10 guests. Coppola built the residences, as well as the pier extending into the sea, when he acquired the lease of the island. In 2022, Coral Caye was listed for sale at $2.2 million.
