

But it's fairly safe to say that nothing comes close to

Perhaps most unbelievable of all, is that Kokomo is not beyond the realms of reality. In fact its designers,

We take a closer look at the jaw-dropping design. The world of yacht design has seen some pretty out-there concepts in recent years -- from boats inspired by Lego , to space-age ships resembling a Concorde jet on water.But it's fairly safe to say that nothing comes close to Kokomo Ailand -- the 80-meter-tall private floating island featuring a waterfall, shark feeding station, and two beach clubs.Perhaps most unbelievable of all, is that Kokomo is not beyond the realms of reality. In fact its designers, Migaloo , will be showcasing their plans at the Monaco Yacht Show this week, and have apparently already received "very strong" expressions of interest from clients across the world.We take a closer look at the jaw-dropping design. Courtesy Migaloo

The fantastical vessel is yet to be given a price tag. But as the designs go on show besides multimillion dollar superyachts at this year's Monaco Yacht Show, you can bet it's going to be outside the budget of mere mortals.

So what kind of person would actually buy a vessel like this?

"An open-minded, visionary owner, who wants to stick out of the mass with his unique design," said Migaloo's Managing Director, Christian Gumpold.

"They would be a real trendsetter and somebody who loves traveling long distances." Courtesy Migaloo

When it comes to superyachts -- and their multimillionaire owners -- is there ever such a thing as "over-the-top?" Gumpold thinks not.

"Clients always demand the extraordinary design, and we as designers try to fulfill their dreams," he said.

"Large waterfalls, living plants -- these are an upcoming trend on megayachts. We just took these features to another level." Courtesy Migaloo

To the untrained eye the vessel might bear a passing resemblance to an upmarket oil rig -- albeit one that is a lot more luxurious.

The futuristic floating island features a penthouse perched 80 meters above sea level, two elevators, and a jacuzzi with a glass bottom.

Should you wish to move the hefty vessel, expect to take your time, with speeds of eight knots.

"It is more or less a piece of floating land," explained Gumpold. "It can be supported by custom-designed support vessels, as is a trend in the yachting industry right now.

"So it is like a offshore main basis or hide away, and from there you are free to go anywhere." Courtesy Migaloo

"Living on and with the sea will be a future mega trend -- and the island can be a first step to adapt to this new way of living," explained Gumpold.

"We've noticed a strong trend towards individualization in the current superyacht market, so we wanted to create something completely new."

Courtesy Migaloo

"The design of the island is inspired by nature," said Gumpold of the vessel which includes a helipad and underwater dining saloon.

"It's features reflect the beauty of a secret hideaway -- but we interpreted everything in a modern architectural way, without simply trying to copy it." Courtesy Migaloo

And what floating island is complete without an extravagant underwater toy to accompany it?

The company's submersible yacht concept (pictured) comes in a range of sizes, from 72 meters, up to 283 meters. Gumpold explains that the floating yacht would act as a "mothership," from which this sleek underwater vessels zips you across the ocean.

Courtesy Migaloo