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Forget thatched roofs, flamingo-pink tiles and cheesy wooden carvings. Homeowners in warm-weather climes increasingly want the look of laid-back, low-key luxury.

Tropical modern, as the style is called, combines the clean lines and muted color palette of contemporary design with the exotic woods and stone found in island homes. Many affluent buyers are willing to pay a premium for tropical-modern homes.

The style “is having…