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. Last Updated: 07/27/2016

Travolta's $3M Oahu Estate Snapped Up by Supermodel

LOS ANGELES -- John Travolta and Kelly Preston have sold their estate in Hawaii to model-turned-mogul Kathy Ireland for just under $3 million.

The oceanfront estate, on Oahu, has a tenth of a hectare of beach frontage.

There are three bedrooms and three bathrooms in 300 square meters. It was built in the mid-1960s. Travolta bought the property in 1986, then added an indoor pool and a lava waterfall under a domed ceiling.

Ireland and her partners, Erik Sterling and Jason Winters, plan to turn the private residence into a corporate retreat that will be rented out as one of several Kathy Ireland Worldwide company vacation villas. The house, to be renovated, will also be a showcase for Ireland's Hawaiian-themed design products. Her brand is known for its lines of home furnishings and clothing.

Ireland was credited recently in Forbes magazine for building her design brand into a $1 billion-per-year empire, which she started about 10 years ago designing socks.

Ireland is a former supermodel-actress, and has appeared on the covers of several Sports Illustrated swimsuit issues.

She and husband Greg Olsen, a doctor, are building a home on a 40-hectare parcel near their existing residence in the Santa Barbara, California, area.

Travolta and Preston own property in the Brentwood section of Los Angeles, Santa Barbara and Maine.