Julia Roberts has cut over $10 million off the asking price of her Hawaiian home.

Julia Roberts

Julia Roberts

The 48-year-old actress and her husband Danny Moder, 47, are selling their sugar plantation-era home on Kauai's north shore in Hanalei, which they bought for just under $14 million in 2011.

While the couple initially put a $30 million price-tag on the seven-bedroom property, they have now dropped the price to $19.5 million, according to Pacific Business News.

The home is situated on two acres and also features a one-bedroom guest cottage and is currently available to rent.

The main house costs $1,500 per night while the cottage can be rented for $350.

Other celebrities with homes on Kauai include Bette Midler, Pierce Brosnan and Ben Stiller.

Meanwhile, it was recently revealed that Julia is set to produce and star in a new parental revenge drama.

The movie - which is yet to confirm its official title - will be based on an adaptation of a book called 'I'll Get You!: Drugs, Lies, and the Terrorizing of a PTA Mom', written by Kelli Peters and a 'New York Times' journalist under the pen name of Sam Rule.

The book is based on the life of Kelli, who was the president of the Parent Teacher Association and volunteer at her daughter's school. She was accused by another mother of keeping her son waiting during the afternoon pick up, and the confrontation that ensued led the mother and her husband to demand Kelli be banned from the school, even going so far as to frame her for drug possession.

Kelli was arrested and investigated, and after a five-year ordeal she eventually won a $5.7 million civil case against the couple.

Production is still in its early stages, and as of yet there is no writer or studio team attached to the project. George Clooney has reportedly shown interest in the concept, and could be on board to co-produce alongside Julia.