Local realtor Barbara Wolveridge is a 30-year veteran in the real estate sector and for the first time in her career is faced with a fascinating challenge.

In what can be best described as a rare occurrence, the Director of Sotheby’s International Realty, Port Douglas, is selling a private island on the Great Barrier Reef.

Victor Island is on the market for $5.5 million, and it’s more affordable than some waterfront homes in Brisbane and Sydney, according to news reports.

And as Wolveridge says, if you've ever wanted to own a private island, now could be your chance.

The eight-acre oasis offers uninterrupted 360 degree views of the Coral Sea, along with a four-bedroom solar powered electricity system with a back-up generator. It also has 200,000-litre rainwater storage, and a 100-square-metre freshwater dam.

Two boats are also included in the sale to make the 10 minute ride to mainland Mackay simple for the new owners.

"It's very rare. I've been in the business for 30 years and this is the first time I've actually had an opportunity to sell an island,” says Wolveridge.

Owner Meg Sullivan decided it's time to move on after five years and wants someone else to live the dream with the ocean as your front and back yard, according to a 9News report.

"It's the freedom of living on the island where you can do what you want, when you want.

"If you want to catch a fish for dinner you go and throw a line in," she said.

If you're interested you might need to act quickly with the property generating interest from buyers across the country and around the world.

"We've got people lining up to come and see it and I can add that it is under contract," said Wolveridge.

Victor Island is one kilometre east from Hay Point Marina, south of Mackay, on Queensland's stunning coastline.