Profile: Maui Land & Pineapple Company Inc (MLP.N)
30 Jun 2015
Maui Land & Pineapple Company, Inc., incorporated on December 17, 1909, is a landholding and operating company. The Company owns approximately 23,000 acres on the island of Maui on which it operates the Kapalua Resort community. It also owns and manages approximately 8,304-acre Puu Kukui Watershed Preserve in Hawaii. The Company develops, sells, and manages residential, resort, commercial, and industrial real estate. Its operational segments include Real Estate, Leasing, Utilities and Resort Amenities.
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 planned, destination resort community located in West Maui encompassing approximately 3,000 acres. It is engaged in planning, permitting and entitlement activities for its development projects. The Company's projects include Kapalua Resort, Kapalua Mauka, Kapalua Central Resort, Pulelehua and Haliimaile Town. Its wholly owned subsidiary, Kapalua Realty Company, Ltd., provides general brokerage services for resale of properties in the Kapalua Resort and surrounding areas.
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. In Commercial and Industrial Leases, the Company is an owner and lessor of approximately 270,000 square feet of commercial retail and light industrial properties, including restaurants, retail outlets, office buildings and activities within the Kapalua Resort. In Agricultural Leases, It is the lessor of approximately 1,900 acres of agriculture land leases in West and Upcountry Maui. In Trademark and Trade Name Licensing, 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. In Stewardship and Conservation, it manages the conservation of an approximately 8,600-acre nature and watershed preserve in West Maui.
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, the Company also manages several non-potable irrigation water systems in West and Upcountry Maui areas. Kapalua Water Company, Ltd. provides potable and non-potable water utility services to the Kapalua Resort, including its golf courses, hotels, residential subdivisions, commercial properties, and landscaped common areas. Kapalua Waste Treatment Company, Ltd. provides sewage collection and transmission services to the Kapalua Resort. Waste water treatment is processed by the County of Maui's facility in neighboring Lahaina, Maui. The Company owns and operates several non-potable wells, reservoirs and transmission systems serving the Kapalua Resort, the County of Maui, and agricultural users in West and Upcountry Maui areas.
The Company's Resort Amenities segment includes the operations of the Kapalua Club, a private, non-equity club providing its members special programs, access and other privileges at certain of the amenities at the Kapalua Resort including an approximately 30,000 square foot full-service spa and a private pool-side dining beach club. Revenues from its Resort Amenities segment is approximately 4% of total operating revenues for the year ended December 31, 2014.
Maui Land & Pineapple Company Inc
200 Village Rd
LAHAINA HI 96761-8723