The property is believed to be $3,500-a-night per night to rent and has five bedrooms, six bathrooms, a chef's kitchen, a garden and even a Koi pond, according to The Telegraph.

The Obama's usual first choice, The Plantation Estate, can cost anywhere from $5,000 to $10,000 a night depending on the season.

Obama must pay out of pocket for his accommodations which add up to around $56,000 for his entire two week stay.

According to Oahu Luxury Homes the oceanfront provides a stunning view of the Moluka Islands.

Obama's eighth consecutive Christmas vacation to Hawaii begins just as a new report published on Thursday showed the total cost of Obama's vacations since taking office in January 2009 has now hit $70.5million.

Stunning ocean views: According to Oahu Luxury Homes the oceanfront provides a stunning view of the Moluka Islands