MICRO MARKET MONDAY: What Does a Private Island Cost in BC?

Earlier this year, a private island on British Columbia’s Sunshine Coast sold for $13 million. Turnagain Island, located in Secret Cove near Halfmoon Bay, comprises more than 93 acres and had most recently been offered at $14.749 million. But the transaction involved considerably more than a large parcel of waterfront land.

The property includes two substantial residences totalling approximately 6,061 square feet, municipal water, submarine power service, an irrigation reservoir, generator infrastructure, a protected 120-foot deep-water dock, multiple boathouses and docks, and an adjacent mainland waterfront property.

Perhaps equally interesting is its marketing history. Turnagain had been exposed through successive MLS listings dating back to 2022, initially at $15 million, before ultimately selling on May 5, 2026 for $13 million, about 11.9% below its final asking price. Even at the trophy end of the market, private islands can require patience.

That raises an interesting question for this week’s Micro Market Monday:

What does a private island in British Columbia actually cost?

The answer can range from hundreds of thousands of dollars to well into eight figures and island size is only one part of the equation.

Recent Sales Show an Extraordinary Range

The private-island market is extremely thin, but several transactions provide useful perspectives, at the upper end of the market, Norway Island, a roughly 29-acre estate in the Southern Gulf Islands, sold after being marketed at $5.75 million.

Jackson & Associates’ compiled market data records the sale at approximately $5.0 million. Unlike a typical vacant island, Norway is a functioning recreational estate with multiple residences, BC Hydro power supplied by submarine cable, drilled wells, septic servicing, protected moorage, a swimming pool and tennis court.

At the opposite end of the spectrum, Circle Island, near Lasqueti and Texada Islands, sold in late 2024. Our compiled MLS/Landcor data records a sale price of approximately $535,000. At roughly 6.5 acres, the property was essentially undeveloped and had no existing dock. Colliers also cautioned that available mapping suggested the island could be closer to nine acres, an excellent example of why even something as basic as reported acreage sometimes requires verification in this market.

Centre Island in Esperanza Inlet provides an even more striking comparison. Approximately 110 acres with more than 15,000 feet of shoreline sold for $1.45 million. The island included a modest cabin, internal road network, protected bays and year-round freshwater ponds, but comparatively limited servicing and substantially greater remoteness.

Then there is Little Shell Island, near Sidney. Only about one acre, it sold for $1.02 million in December 2025. Its appeal is almost the inverse of Centre Island: small acreage but excellent accessibility, protected moorage, beaches and proximity to Sidney and the Saanich Peninsula. That comparison tells us something important:

Location and amenities matter more than island size.

Current listings reinforce the point:

Breakwater Island, immediately off Gabriola Island, is currently asking approximately $14.95 million. Its 65 acres are distributed among four legal titles and include two residences, a large workshop, deep-water dock and pier, water infrastructure and submarine electrical service from Gabriola Island. Its multiple-title configuration also provides substantially different development potential from a single-title island of similar size.

Tan Island, in Gorge Harbour near Cortes Island, is currently offered at approximately $5.85 million, down from its earlier $6.0-million offering. The approximately 40-acre property includes five titles, two main residences, three guest cabins, workshops, BC Hydro service, drilled water sources, two deep-water docks and oyster leases.

Victory Island in Jervis Inlet is asking $3.5 million. At approximately 12–13 acres, it includes an architect-designed residence, guest accommodation, an engineered dock capable of handling large vessels, a deep well, solar power and backup generation. Importantly, it is only about a five-minute boat ride from the Saltery Bay ferry terminal.

By comparison, Francis Island at Ucluelet is asking $2.5 million for approximately 12 acres of largely undeveloped old-growth coastal land.

At the smaller end, Fane Island near Pender Island is currently offered at $1.495 million after a price reduction. Its 1.9 acres include a rustic cabin, installed septic system, water storage and a protected harbour, although a new dock would still need to be installed.

And Twilight Island, near Salt Spring Island, is currently asking $965,000. The property is less than half an acre but includes an 896-square-foot residence and private dock. Its asking price has dropped substantially from approximately $1.35 million in earlier marketing.

What Actually Drives Private-Island Value?

A simple price-per-acre analysis can be particularly misleading in this market.

Several characteristics matter considerably more than land area:

1. Accessibility

An island five minutes from a marina, ferry terminal or established community is fundamentally different from one requiring a lengthy crossing of exposed coastal waters.

Proximity to Vancouver, Victoria, Nanaimo, Campbell River or established ferry and floatplane routes can materially expand the potential buyer pool.

2. Dock and Marine Infrastructure

For an island property, the dock essentially functions as the driveway.

Protected, all-weather deep-water moorage can have enormous utility. Replacement may also involve significant construction cost, environmental approvals, foreshore tenure and permitting risk.

3. Power, Water and Sewage

Grid electricity is unusual and highly desirable. Reliable wells, reservoirs, cisterns, septic infrastructure, solar systems and backup generation all reduce the cost and complexity of island ownership.

4. Existing Improvements

Turnagain, Norway, Tan, Victory and Breakwater are functioning estates—not simply parcels of land. Residences, guest accommodation, workshops, roads, docks and utility systems can represent millions of dollars in replacement cost, together with years of planning, permitting and construction.

5. Shoreline Quality and Exposure

Not all waterfront is equally useful.

Protected coves, beaches, low-bank shoreline and safe landing areas generally provide greater recreational and marine utility than steep, exposed or inaccessible shoreline. Prevailing winds, tides and wave exposure can significantly affect an island’s year-round usability.

6. Title and Development Potential

Four separately titled parcels can have very different utility from one 65-acre title.

Development potential, zoning, permitted density, foreshore rights and the ability to accommodate additional residences or guest cottages can materially affect both current value and future flexibility.

The Appraisal Perspective

A private island is not really a standardized property type.

It is a unique combination of location, accessibility, shoreline, moorage, utilities, improvements, title structure, development potential, privacy and scarcity.

That is why an approximately 110-acre island can sell for $1.45 million while a roughly 94-acre island sells for $13 million, and why a one-acre island close to Sidney can sell for more than $1 million.

For an appraiser, that means the real work begins after the comparable sales have been identified and understanding why one island commands several times the value of another.

At Jackson & Associates Ltd., that property-specific market analysis is central to our approach to the valuation of unique waterfront, recreational and island properties throughout Vancouver Island and coastal British Columbia.

Market information compiled from MLS®, BC Assessment, Landcor, Colliers/Unique Properties and publicly available listing information. Active asking prices are current to approximately August 2026 and are subject to change.