Avada Theme from Themeforest Will Not Load

Hello,

I am having a problem loading a theme that has been in on my drive for some time. When I go to load it, the following error occurs:

Not enough space to upload. 21,238 KB needed. Back

I have tried upping the file size max all the way to 500000; however, no go. I checked to see if there was a smaller installable: nope. I also made sure only to download the WordPress files to ensure the smallest size. Still, the zip file weighs in at a hefty 43 MB. Any insight will be appreciated. Thanks!

Matthew