Hibiscus Island Homes for Sale

Hibiscus Island is a luxury waterfront, luxury community in Miami Beach, Miami-Dade County, Florida. Properties are priced from $5,500,000 to $49,500,000. Pure Equity lists homes in Hibiscus Island and represents buyers. Commission is negotiable, and what we are paid is agreed with you in writing before you commit to anything.

Pure Equity Realty covers Hibiscus Island and the Miami Beach area. We list for 1%, which includes photography, MLS syndication, and negotiation support. Buyers pay nothing for representation. For current market data, see Florida Realtors' market statistics.

Our MLS feed shows 10 Hibiscus Island Miami Beach homes for sale as of October 2026. The median asking price is $18.2M. Asking prices run from $5.5M to $49.5M.

That is 2616% above the Miami Beach median of $670,000. On a per-foot basis, homes here ask about $4,264 per square foot, compared with $705 across Miami Beach. So the median price buys roughly 4,250 square feet of living area.

Listings here have averaged 181 days on the market. That tracks the Miami Beach average of 174 days, so pricing and terms follow the wider city market.

Homes listed in Hibiscus Island date from 1934 to 2026. That puts them between 0 and 92 years old.

The range straddles 2002, when Florida adopted its statewide building code. Therefore two similar-looking homes here can carry very different insurance premiums. Ask for the wind mitigation report on any home you consider, since it drives much of that difference.

In addition, most Florida insurers ask for a four-point inspection on homes 30 years or older. It covers the roof, electrical, plumbing and HVAC. Updated systems usually make coverage easier to place.

Hibiscus Island includes waterfront homes. Waterfront lots in South Florida often sit in FEMA special flood hazard areas, where lenders require flood insurance. Before you commit, look up the address on the FEMA Flood Map Service Center and ask the seller for an elevation certificate.

At a median near $18.2M, Hibiscus Island sits in the luxury tier of Miami Beach. Jumbo financing and proof of funds usually come up early in these negotiations.

Rentals in Hibiscus Island have a median asking rent of $43,500 per month, across 8 active rental listings. For comparison, the Miami Beach median is $3,500, so rents here run 1143% higher.

For investors, those medians imply a gross yield near 2.9% a year. However, that figure comes before HOA dues, property tax, insurance and vacancy. Also check the association documents first, because many Florida HOAs cap leases or set minimum terms.

You can browse current Miami Beach rentals or ask us for a rent estimate on a specific Hibiscus Island home.

Here is what the median Hibiscus Island price means in Florida closing terms. At $18.2M, a 20% down payment comes to about $3.64M, leaving a loan near $14.6M.

Florida then taxes that loan twice. First, documentary stamp tax on the note runs 35 cents per $100, or about $50,959. Next, the intangible tax of 0.2% adds about $29,119. Buyers normally pay both at closing.

On the seller side, Miami-Dade charges deed stamps of 60 cents per $100 on a single-family home, about $109,197 at this price. Condos and other property types pay a higher rate.

Finally, owner-occupants should file for the Florida homestead exemption by March 1. It removes up to $50,000 of assessed value. After that, Save Our Homes caps yearly assessment increases at 3% or inflation, whichever is lower. To see what these numbers mean for your budget, get pre-approved before you tour.

Recent Hibiscus Island listings show assignments to Miami Beach South Pointe (elementary), Miami Beach Nautilus (middle) and Miami Beach (high). However, boundaries can change each year, so confirm the assignment for a specific address with Miami-Dade County Public Schools.