The first family is not the true purchaser of a sprawling beachfront home used in the filming of the 1980s television show Magnum, P.I. that sold for $8.7 million to a close friend of President Barack Obama, the White House said on Friday. Asked if there was any 'truth' to rumors that the 'Obamas are behind this purchase' White House spokesman Josh Earnest smirked and said, 'They are not.' An attorney for Marty Nesbitt, a close friend of the president and first lady from their days in Chicago, said Thursday that his client bought the property. The lawyer, Seth Madorsky, said Nesbitt didn't have any partners or co-investors in the deal. These undated photos, provided by LIST Sotheby's International Realty, show the Waimanalo, Hawaii, home used for the filming of the 1980s television show 'Magnum, P.I.' The 3-acre oceanfront property has sold for $8.7 million to a close friend of President Barack Obama . The first family is not the true purchaser of the sprawling beachfront home, the White House said on Friday. The 3-acre oceanfront property is in Waimanalo, next to the town of Kailua where the Obama family has spent the winter holidays in recent years . Known as 'Pahonu,' the property has been owned by single family since its construction before its recent sale . Bobby Titcomb, left, tries to block President Barack Obama, center, and Marty Nesbitt, right, as an errant shot from one of their other playing partners lands nearby  while playing golf with friends at the Mid Pacific Country Club in Kailua, Hawaii, on December 28, 2010. An attorney for Marty Nesbitt, a close friend of the president and first lady from their days in Chicago, said Thursday that his client bought the Hawaii property in question . The 3-acre oceanfront property is in Waimanalo, next to the town of Kailua where the Obama family has spent the winter holidays in recent years. That it's close to an Air Force base and has a maid's house that could house security officers - a Secret Service requirement - had Fox News speculating on Friday afternoon that the Obamas might be the intended, future occupants of the abode. Tom Selleck's character, Robin Masters, lived in the house on Magnum P.I. It was known as 'Robin's Nest' on the show. Many of the scenes from the show were not actually taped at the residence, however, and were instead shot in a studio. According to real estate website Zillow, the Spanish Colonial style residence was built in 1933. Known as 'Pahonu,' the property has been owned by single family since its construction before its recent sale. In addition to a five-bedroom and 5.5 bath 11,054 square foot main residence, Zillow states that the property features a 'historic turtle pond,' tennis courts, a gate house, boat house, four-car carriage house and a bath house. 'A truly rare and lifetime opportunity,' the listing states. It also accesses a private beach. The Obamas still own a home on the South Side of Chicago, but they rarely visit it anymore. Instead, they spend their winter vacations in Hawaii, the president's birth state. The president is pictured here in December of 2011 with daughters Malia, left, and Sasha, right, as well as Nesbitt, back right, after a visit to Sea Life Park - which is located right next to the Pahonu property Nesbitt just purchased . That it's close to an Air Force base and has a maid's house that could house security officers - a Secret Service requirement - prompted speculation that the Obamas might be the intended future occupants of thehouse . Manicured: The house is set in extensive and well-maintained grounds - which the White House said the Obamas would not be enjoying . Nesbitt is a Chicago businessman who served as treasurer for Obama's first presidential run. He is the chairman of the Barack Obama Foundation, which will build the president's future library. He remains one of the first family's closest friends, and is one of Obama's most frequent golf partners. The two have played together 18 times since the former Illinois senator moved into the White House, according to Politico, including several times in Hawaii. The Obamas still own a home on the South Side of Chicago, but they rarely visit it. Instead, they spend their winter vacations in Hawaii, the president's birth state. Their favorite restaurant, the critically acclaimed Alan Wong's, is also located in the Hawaiian islands. Meals there cost $75 a person. The cost rises to $105 each when paired with wine. As Politico notes, it wouldn't be unprecedented for the Obamas to purchase a new home through a family friend and allow it to lay in wait while still living at the White House. George W. Bush and Laura Bush acquired their Dallas, Texas, home in the name of the then-president’s personal accountant, Robert McCleskey. McCleskey came up with the funds by taking out a loan from a Midland, Texas, bank. But the Bushes didn't deny that they'd purchased, accommodations, though they wouldn't say where, and they waited until the final months of the 43rd president's tenure to to attain the property. Barack Obama has just over 21 months left in his presidency. While the Obamas don't currently have the estimated net worth necessary to make such a purchase, as their assets are currently valued at a maximum of $12 million and still have two children to put through college, they could easily raise the additional funds after leaving the White House through speaking fees and book advances, much like the Clintons. The former president and first lady, who is now considering a presidential bid of her own, alternate between homes in Washington, D.C. and Chappaqua, New York. In addition to a five-bedroom and 5.5 bath, 11,054 square foot main residence, the property features a 'historic turtle pond,' tennis courts, a gate house, boat house, four-car carriage house and a bath house. It also has access to a private beach . While the Obamas don't currently have the estimated net worth necessary to make such a purchase, as their assets are currently valued at a maximum of $12 million and still have two children to put through college, they could easily raise the additional funds after leaving the White House through speaking fees and book advances, much like the Clintons .
Asked if there was any 'truth' to rumors that the 'Obamas are behind this purchase' White House spokesman Josh Earnest smirked and said: 'They are not.' An attorney for Marty Nesbitt, a close friend of the president and first lady from their days in Chicago, said Thursday that his client bought the property. The lawyer said Nesbitt didn't have any partners or co-investors in the deal . The 3-acre oceanfront property is in Waimanalo, next to the town of Kailua where the Obama family has spent the winter holidays in recent years . Tom Selleck's character, Robin Masters, lived in the sprawling beachfront home on the television show Magnum P.I. In addition to a five-bedroom and 5.5 bath 11,054 square foot main residence, the property features a 'historic turtle pond,' tennis courts, a gate house, boat house, four-car carriage house and a bath house .