Julia Roberts has dropped the price of her oceanside retreat in Hawaii. The property was built in 1917 on one of the largest private sections of land in Hanalei Bay, Kauai, along 200 feet of beach.

Roberts is listing the former sugar plantation at $21.95 million, down from $29.85 million when it first went on the market last year, according to TopTenRealEstateDeals.com.

“This property is only one of three that have a two-acre lot on the best beach on the island, if not the whole island chain,” said Neal Norman of Hawaii Life Real Estate Brokers, which has an HGTV show of the same name.

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The 3,792-square-foot house can be expanded to up to 9,000 square feet of living space on the lot, Norman said. Roberts decided to keep the house unchanged when she purchased it in 2011, but a new buyer would have plenty of options for the area.

“A buyer might like the campy nature [of the current house] a lot, or people would see the value of the lot, or the potential to remodel,” Norman said. “There are almost no limits to this property, which is rare here.”

The property includes a main home and a guesthouse, which have a combined seven bedrooms and four bathrooms.

Roberts, 48, is one of the highest-paid actors in Hollywood and one of the industry’s biggest box office draws. Over the years, she has starred in such hits as “Pretty Woman,” “Steel Magnolias” and “Erin Brockovich,” for which she won an Academy Award. Her latest movie “Money Monster,” which also stars George Clooney, will be released in May.

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She is married to cameraman Daniel Moder and has 11-year-old twins Phinnaeus and Hazel and eight-year-old Henry.

Roberts’s reasons for selling the property stem from her busy schedule. Her family, Norman said, “simply wasn’t using it enough.”

“The property has been listed for quite some time and they are motivated to sell,” he said. “A special person will love the property… You can stand on the lawn leading out to this encompassing dream beach but also see mountains. Its an incredible space.”