Profile: Maui Land & Pineapple Company Inc (MLP.N)

MLP.N on New York Stock Exchange

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Maui Land & Pineapple Company, Inc., incorporated in 1909, develops, sells, and manages residential, resort, commercial and industrial real estate. The Company owns approximately 23,300 acres of land on Maui. The Company operates in four segments: Real Estate, Leasing, Utilities and Resort Amenities. Its real estate operations consist of land planning and entitlement, development, and sales. Its leasing activities include commercial, industrial and agricultural land and facilities leases, licensing of its registered trademarks and trade names, and stewardship and conservation efforts. The Company operates two publicly-regulated utility companies which provide potable and non-potable water and sewage transmission services to the Kapalua Resort. In addition, it also manages ditch, reservoir and well systems which provide non-potable irrigation water to West and Upcountry Maui areas. The Company, within the Kapalua Resort, manages a private, non-equity club program.

Real Estate

The Company’s Real Estate segment includes all land planning, entitlement, development and sales activities of its landholdings on Maui. Its principal real estate development is the Kapalua Resort, a master-planned, destination resort community located in West Maui encompassing approximately 3,000 acres. It has approximately 1,500 acres of land in Maui that are in various stages of the development process. It is engaged in planning, permitting and entitlement activities for its development projects. The Company’s projects include Kapalua Resort, Pulelehua and Hali imaile Town. Kapalua Resort is a golf resort destination and residential community. The Company has entitlements to develop a variety of projects in the Kapalua Resort. Kapalua Resort includes Kapalua Mauka and Kapalua Central Resort. Kapalua Mauka encompasses 800 acres and includes up to 639 residential units with amenities, including up to 27 additional holes of golf. Kapalua Central Resort is a commercial town center and residential community located in the core of the Kapalua Resort. Kapalua Central Resort consists of 46 acres and is planned to include up to 61,000 square feet of commercial space and 188 condominium and multi-family residential units. Pulelehua in West Maui encompasses 312 acres and is planned to include 882 single and multi-family residences, 95,000 square feet of commercial and retail spaces, an elementary school, churches and a community center. Hali imaile Town includes 290 acres designated as urban Small Town in the Maui county's general plan. The Company’s wholly owned subsidiary, Kapalua Realty Company, Ltd. provides general brokerage services for resales of properties in the Kapalua Resort and surrounding areas.

Leasing

The Company’s Leasing segment activities include commercial, light industrial and agricultural land leases, licensing of its registered trademarks and trade names, and stewardship and conservation efforts. It is the owner and lessor of approximately 290,000 square feet of commercial retail and light industrial properties, including the majority of the restaurants and retail outlets, buildings and activities in the Kapalua Resort. It is the lessor of 1,900 acres of diversified agriculture land leases in West and Upcountry Maui. The Company has licensing agreements for the use of its registered Kapalua trademarks and trade names with several different companies, mainly in conjunction with the leasing of its commercial spaces and agricultural lands. It manages the conservation of an 8,600-acre nature and watershed preserve in West Maui. A portion of its stewardship and conservation efforts is subsidized by the State of Hawaii and other organizations.

Utilities

The Company’s Utilities segment includes the operations of its two Hawaii Public Utilities Commission-regulated subsidiaries, Kapalua Water Company, Ltd. and Kapalua Waste Treatment Company, Ltd. In addition, it also manages non-potable irrigation water systems in West and Upcountry Maui areas. Kapalua Water Company, Ltd. provides potable and non-potable water utility services in the Kapalua Resort area, including the Kapalua Plantation Golf Course (PGC) and the Kapalua Bay Golf Course (Bay Course), The Ritz-Carlton Kapalua hotel, The Residences at Kapalua Bay, and landscaped common areas. Kapalua Waste Treatment Company, Ltd. provides sewage collection and transmission services in the Kapalua Resort area. The Company also owns and operates several non-potable ditch, reservoir and well systems, which provide irrigation water to the County of Maui, the PGC and Bay Course, and agricultural users in West and Upcountry Maui areas.

Resort Amenities

The Company’s Resort Amenities segment includes the operations of the Kapalua Club. Kapalua Club is a private, non-equity club providing its members special programs, access and other privileges at certain of the amenities at the Kapalua Resort including a 30,000 square foot full-service spa and a private pool-side dining beach club.

Company Address

Maui Land & Pineapple Company Inc

200 Village Rd
LAHAINA   HI   96761-8723
P: +1808.8771608
F: +1808.6650641

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