A 5.4 acre waterfront estate steeped in the history of Honolulu is on the market, priced at a whopping $80 million.

Known as the Kaiser Estate, the 2.2 hectare property was first developed by American industrialist Henry J. Kaiser, who founded aluminum, steel, health care and aerospace companies that carry the Kaiser name. Over the years, Jacqueline Kennedy, Bob Hope and President Lyndon Johnson and his wife, Lady Bird, were among his guests on the property, which sits on a quiet cove with views of Diamond Head.

The property is the largest waterfront parcel in one of Oahu’s most prestigious neighborhoods, but the asking price is still jaw dropping. A 15,000-square-foot house and a 12,000-square-foot boathouse on the land are both in need of “major” repair. Property tax assessments value the property at $37.5 million, reduced from $48.8 million a year ago.

But the historic estate may be split up. The property could be sold as three parcels, priced between $18 million and $34 million; a 1.9-acre main house parcel for $28 million, a 1.6-acre landscaped parcel with tennis courts for $18 million and a 2-acre boathouse parcel that includes the harbor for $34 million.

The current owners are Fred and Annie Chan, who reportedly paid $14.6 million for the property in two transactions in 1997 and 2000. Fred Chan is a tech entrepreneur who has expanded into real estate. Past owners include Monte and Alfred Goldman, the sons of an Oklahoma grocer who purportedly invented the shopping cart, and Japanese billionaire Gensiro Kawamoto, who paid $42.5 million for the property in 1988, which was believed to be the largest price ever paid for a private residence in the United States, at the time.

Last year, the two-acre site of the estate’s former guest house, which was redeveloped with a new house, sold for $15.9 million.