DENVER — Some people who prosper in life choose to spend their hard-earned millions on private planes. Some buy a vineyard in Napa to indulge a love of wine. Some collect showpiece cars, or fulfill a dream of hiking Mount Everest.

Marc Paskin bought a radio station in Colorado and converted it to a marijuana-themed format.

“I was going to retire, and then I said: Wait a minute, that’s boring,” said Mr. Paskin, 66, a millionaire who made his money in real estate and has never been known as boring. In Hawaii, where he lived for a long time, he starred in a reality television show called “Uncle Kokua” in which he drove around Oahu in a van and distributed money to people in need. After his wife died, he searched for a girlfriend using a San Diego billboard. (It worked.)

And in May, he moved to Denver, bought a radio station for $875,000 and christened it Smokin 94.1, declaring it the state’s only pot-themed FM station. Yes, the Grateful Dead get heavy airplay, as do the Rolling Stones and several reggae artists. In addition to classic rock and music to get stoned by, the station plays marijuana-laced comedy bits. It made its debut on June 1.

“This is my million-dollar toy,” Mr. Paskin said.

He is not just the owner but also the on-air talent: As Gary Ganja, he is the regular afternoon D.J. In the studio, he wears flip-flops, a Bob Marley wig and a Rolex. At the mixing board, though, he’s cannabis-free. “I want to pay attention,” he said, “with all those controls and everything.”