That whole thing about no limits on materials? The board's actually hollow, with a shell made from very hard Far East Asian Paulownia wood that's then covered in a much more beautiful wood from New Zealand, with added reinforcement from high-strength polycarbonate supports. (These are where your costs are associated.)
Of course, there's a 23-karat gold leaf (one ounce: $1,221.83) lion on the board, because for a million bucks, why on Earth wouldn't there be?
Aaron Miller is the Rides editor for Supercompressor. He doesn't surf, but that's only because his balance sucks and he lives 24 hours (driving 85 mph nonstop) from the nearest beach.