He sold electronic surveillance equipment to the military and law enforcement agencies, and initially ran the company in Florida before moving the business to his island. In 1992 he sold the company, Audio Intelligence Devices, to Westinghouse. Halcomb now lives on a Kentucky ranch and has a Florida business financing aircraft, and said it is now time to sell his piece of paradise.
"I'm 79 and I had trouble with skin cancer," Halcomb said. "The doctors ordered me to get out of the sun. & They said: get rid of the island or make funeral arrangements."
Leaf Cay is part of the Exumas, an archipelago that stretches out for more than 100 miles. It sits about 85 miles south of Nassau, 260 miles from Miami and about 140 miles from the coast of Cuba.
And it has some very famous neighbors. Nearby islands are owned by Johnny Depp, Nicholas Cage, David Copperfield and Eddie Murphy.
But don't expect to see them or anyone else during a trip to this sunny patch of land -- it's called a private island for a reason.
Halcomb said that in his two decades on the island he never had unwanted visitors. "It's isolated. Nobody gives you any trouble," he said. "You could stand on the beach naked for a week and nobody would ever see you."
It's also one of the few islands that is not leased by the government of the Bahamas. Leaf Cay is one of 17 of the roughly 800 inhabitable islands in the region that has its own title, according to Fisher.
Those considering a bid on Halcomb's property should know you'll never have to worry about the lights going off at Leaf Key.
Thanks to a seven-mile undersea cable, it is one of the few islands tied into the Bahamas power grid. There are also six backup generators and two dozen solar panels.
And don't worry about drinking water -- underground cisterns capture and store up to 145,000 gallons of rain water. If that fails, a desalinization plant was installed seven years ago that can turn 5,000 gallons of seawater into drinking water each day.
If building repairs are needed the island has its own wood and metal shops, seven electric golf carts, a fork lift, tractor and more building supplies than can easily be counted. Think tires, fuel pumps, cables, batteries, nuts, bolts and screws, which should come in handy because "the nearest hardware store is 50 miles away -- by boat," Halcomb said.
When a Florida hardware chain went bankrupt, Halcomb spotted a way to get needed supplies to the island and purchased an entire store at auction.
"I just bought everything, lock, stock, barrel and shipped to the island," he said.
And plenty of those items remain -- there are even four spare refrigerators -- still in the box.
He also stocked up on food with a freezer building that holds 4,000 pounds of frozen food. Halcomb said that between canned and frozen supplies he typically had enough food to last him two to three years.
His stash includes everything from beans to olives to salad dressing. And just in case that is not enough, jar after jar holds seeds to plant your own food.
"I always felt that the potential of something happening in the United States & terrorism or severe storms or hurricanes, that [the island] would be a good place to be away from it," Halcomb said.
And he should be safe on his own. Halcomb has "more gun permits than any other person in the Bahamas."
He has five.