Hibiscus Island

It suits buyers who want a private, guarded island setting with water on most lots but still want quick access to the beach and dining. Seven of the current listings are gated and eight are waterfront, so the character is consistently residential and quiet. You're minutes from South Pointe yet removed from the crowds.

Yes — it's one of the higher-priced corners of Miami Beach. The median list price is $19.5 million and every active listing is above $1 million, with median property taxes running about $149,239 a year. This is an estate market, not an entry-level one.

Active listings range from $4.45 million to $49.5 million, with a median list of $19.5 million and an average of $3,947 per square foot on a median home size around 5,331 square feet. Over the past year the 6 closed sales came in at a median of $10.875 million, so actual trade prices often land well below the ambitious list figures.

It's a slow, low-volume market: 11 homes are active, only 6 sold in the last 12 months, and the median time on market is 101 days. Sellers are averaging about 88% of asking, which tells you there's meaningful room to negotiate on the right property. Compare it against nearby options like Isle Of Normandy before you decide.

There is no typical HOA figure reported for the island's active listings, so budget around the individual home rather than a community due. Property taxes are the bigger line item, with a median of roughly $149,239 per year given the price of these estates. Your exact bill scales with assessed value, so factor it into any offer.