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WASHINGTON — President Obama may need to grow a mustache.

The commander-in-chief appears to have started planning his post-White House life by buying a $8.7million Hawaiian mansion that was featured on the classic ’80s TV series “Magnum, P.I.,” it was reported Thursday.

The beachfront estate in Honolulu was bought this week by a Chicago private-capital firm run by close Obama pal Marty Nesbitt, Fox affiliate KHON reported, igniting speculation that the president was behind the purchase and looking to return to the city of his birth.

Nesbitt has insisted he was the sole buyer. The White House has declined to confirm or deny that Obama was involved.

Locals were abuzz over the possibility of an ex-president next door.

“People on the beach here think it’s Obama, and some people like me are thrilled at the prospect,” Lee Siegel told KHON. “It’s wonderful. My dog there can’t wait to play with Bo.”

A local real-estate agent told KHON the property, called “Pahonu” but known as “Robin’s Nest” on the private-eye series starring Tom Selleck, was sold by its original owner.

Obama has kept his ties to his childhood home state, visiting six times with his family during his presidency.

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