By Breaking Celebrity News Staff

Steven Tyler has a new love nest for his new fiancée.

The Aerosmith rocker turned American Idol judge has splashed out $4.8 million for a stunning home in Kihei on the island of Maui, Hawaii, and Breaking Celebrity News can take you inside the amazing estate, courtesy of our friends at Zillow.com.

Tyler and fiancée Erin Brady actually got a bargain basement price, as the palatial residence was originally priced at a whopping $8 million!

So, what did they get for their moolah?

Built in 1988, the 2-bedroom, 3.5-bath home features 3,000 square feet of living space and high-end fixtures like marble countertops.

Situated on a quarter-acre lot, their new home boasts beautiful ocean views from three sides, an infinity-edged saline pool and floor-to-ceiling aquarium.

Unlike his recent National Anthem butchering, Tyler definitely won’t be singing the blues when it comes to his living arrangements.