Maui Land & Pineapple(NYSE) MLP

Maui Land & Pineapple Company, Inc. NYSE:MLP manages land and buildings on Maui. They help people find homes and places to work. The company also takes care of local nature and water.

Lands, Leases, and Lifestyles

• Commercial Real Estate Leasing: Rents office, retail, and industrial spaces in three town centers; generated $3.9 million in operating revenues for the six months ended June 30, 2026.
• Land Leasing and Management: Manages agricultural and conservation land rentals along with water distribution; earned $2.7 million in operating revenues for the six months ended June 30, 2026.
• Land Development and Sales: Prepares and sells property parcels for residential or commercial use; accounted for $492,000 in operating revenues for the six months ended June 30, 2026.
• Resort Amenities: Operates the Kapalua Club to provide members with access to golf and spas; revenue is recorded within the land development segment.
• Agribusiness Ventures: Cultivates drought-resistant agave for future sales; currently in the pre-revenue stage of development.

Recent Strategic Moves

• Established new office locations in West Maui and Upcountry Maui during 2024 to deepen community relationships.
• Executed a $10 million purchase agreement with Harvest Church for a 6.5-acre parcel in Kapalua.
• Began performing land development projects internally in 2024, including planning for the Kapalua Resort.
• Leased 50 acres to the State of Hawaii at no cost for five years to support wildfire recovery housing.
• Signed a 1,581-acre agricultural ranching lease in early 2026 to return fallow fields to productive use.

What Makes the Company Unique

Maui Land & Pineapple manages approximately 23,000 acres of land across the island of Maui. This portfolio includes the Puu Kukui Watershed, which provides about 70% of the water consumed in West Maui.

Key Financial Performance

• Operating revenues reached $7.1 million for the six-month period ended June 30, 2026.
• Net loss was $3.7 million for the six-month period ended June 30, 2026.
• Commercial property occupancy rose to 93% as of June 30, 2026, compared to 92% at the end of 2025.
• Cash and cash equivalents were $3.3 million as of June 30, 2026.

The Bottom Line

Maui Land & Pineapple has transitioned from a legacy agriculture business into a focused real estate development and land management entity. The company now centers its growth on revitalizing Maui communities through commercial leasing and sustainable agricultural partnerships.