Few places in the South Pacific are as iconic as Bora Bora, with its jungle-clad volcanic peaks, Mount Otemanu and Mount Pahia, soaring more than 2,000 feet above its white sands and turquoise lagoon. The shallow, crystal-clear waters are home to some 800 species of tropical fish, along with sharks, rays and sea turtles. In addition to being one of the premier scuba diving and snorkeling destinations on the planet, the area is watersports heaven, from jet skiing and deep-sea fishing to romantic sunset cruises. Nearby villages offer a glimpse into the traditional Polynesian way of life, with opportunities to sample local cuisine, shop for crafts, and immerse in history and culture.

This stunning setting serves as the backdrop for Motu Azurea, a rare freehold private island recently added to the Private Islands Inc. select portfolio of properties. Luxury resorts are the predominant species for the region, but this 1.1-acre island fringed in powdery white sand promises exclusivity and revenue potential for a discerning investor. Picture a single villa and guesthouse tucked into the island’s lush greenery, like the French Polynesian version of Gladden Private Island. Its intimate size is ideal for a couple or small family, and the island’s proximity to Bora Bora for staffing and domestic airport access adds a layer of convenience without compromising solitude.

Motu Azurea currently features a few modest buildings integrated into the landscape, but an island this cinematic – surrounded by radiant blue-green waters in the daytime and illuminated by pink and purple-streaked skies at sunset – deserves a complete and colorful makeover. With the aid of expert management, adding a modern residence and a full range of amenities to Motu Azurea could transform this untapped island jewel into the most sought-after holiday getaway on the market.