Cameron Diaz and Justin Timberlake have reportedly splashed out $24 million on a Hawaiian holiday home.

The couple were pictured frolicking in the sea while on holiday in Kailua last week and it seems the pair had such a good time they have decided to invest in a property.

According to gossip website Popsugar.com, Justin and Cameron, who is a keen surfer, have spent the whopping sum on a beachfront estate.

However, buyer's agent Joan Graham, of Coldwell Banker, is refusing to confirm the couple have the bought the holiday home because she is bound by a strict confidentiality agreement.