The Island Life: Shane Coderre’s Journey from a $50,000 Investment to a $3M Retreat

Shane Coderre shares the highs and lows of owning a private North Carolina island, from nightmare first renters to a successful $70k-a-year "glamping" business.

By: AXL Media

Published: Apr 4, 2026, 7:26 AM EDT

Source: RNZ

The Challenges of Remote Property Management

Coderre’s initial foray into the rental market was a disaster. Years before the rise of major booking platforms, a tenant found via social media left the island in shambles, refusing to pay and leaving the property a mess. The 70-mile trek from Coderre's primary residence made hands-on management nearly impossible. It wasn't until he partnered with Aaron Seelbinder, an investment acquisition specialist, that the island became a viable business. Seelbinder implemented strict logistical processes, including hiring a dedicated boat captain, Mike Diehl, to ensure the island remained accessible to guests who might otherwise be intimidated by the remote location.

A "Memory That Lasts a Lifetime": The Glamping Appeal

The island’s success lies in its rugged, "unplugged" nature. The only residence is a $26,000 two-story cabin built by a local dockbuilder. There is no television, and the amenities are basic: a composting toilet, a generator for climate control, a propane shower, and a charcoal grill. Guests are required to bring their own drinking water and firewood. Despite—or perhaps because of—this lack of luxury, the island has become a magnet for families, birders, and international travelers seeking to disconnect from modern "civilization." The island is notably pet-friendly, having hosted everything from sugar gliders to hairless cats.

The Economics of Private Island Rentals

The financial performance of the 3-acre getaway is impressive, grossing approximately $70,000 (AUD $101,500) annually. The revenue is split evenly between Coderre and the management team, covering operational costs like cleaning, ferry transportation, and maintenance. Pricing fluctuates significantly based on the season: