Maui Land & Pineapple Company, Inc. develops, sells, and manages residential, resort, commercial, and industrial real estate. The company owns approximately 23,000 acres of land on Maui. Segments The company operates through four segments: Real Estate, Leasing, Utilities, and Resort Amenities. Real Estate segment This segment includes all land planning, entitlement, development and sales activities of the company’s landholdings on Maui. The company’s principal real estate development is the Kapalua Resort, a master-planned, destination resort community located in West Maui, including approximately 3,000 acres. Real Estate Planning and Entitlements The company has approximately 1,500 acres of land in Maui that are in various stages of the development process. The company engages in planning, permitting, and entitlement activities for its development projects; and intends to proceed with the construction and sale of the following projects, among others, when internal and external factors permit: Kapalua Resort: The Kapalua Resort is a golf resort destination and residential community. The company has entitlements to develop various projects in the Kapalua Resort. Two that are planned include Kapalua Mauka and Kapalua Central Resort. Kapalua Mauka is the long-planned expansion of the Kapalua Resort located directly upslope of the existing resort development. As planned, it includes 800 acres and includes approximately 639 residential units with extensive amenities, including approximately 27 additional holes of golf. Kapalua Central Resort is a commercial town center and residential community located in the core of the Kapalua Resort. It includes 46 acres and is planned to include approximately 61,000 square feet of commercial space and 188 condominium and multi-family residential units. Pulelehua: This project is designed to be a new working-class community in West Maui. It includes 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: An expansion of an existing plantation town in Upcountry Maui, this project is contemplated to be a holistic traditional community with agriculture and sustainability as core design elements. The project includes 290 acres designated as urban ‘Small Town’ in the county of Maui general plan. The company is in the early stages of this project’s development. Real Estate Sales 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 segment This segment’s activities include commercial, light industrial, and agricultural land leases; licensing of the company’s registered trademarks and trade names; and stewardship and conservation efforts. Commercial and Industrial Leases: The company is the 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. Agricultural Leases: The company is the lessor of 1,900 acres of agriculture land leases in West and Upcountry Maui. Trademark and Trade Name Licensing: The company has licensing agreements for the use of its registered Kapalua trademarks and trade names with different companies, primarily in conjunction with leasing its commercial spaces and agricultural lands. Stewardship and Conservation: The company manages the conservation of an 8,600-acre nature and watershed preserve in West Maui. A portion of the company’s stewardship and conservation efforts is subsidized by the state of Hawaii and other organizations. Utilities segment This segment includes the operations of the company’s two Hawaii Public Utilities Commission-regulated subsidiaries, Kapalua Water Company, Ltd. and Kapalua Waste Treatment Company, Ltd. The company also manages various major 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. Non-Potable Irrigation Water Systems: The company owns and operates various non-potable wells, reservoirs, and transmission systems serving the Kapalua Resort, the county of Maui, and agricultural users in West and Upcountry Maui areas. This segment’s services are primarily affected by the amount of rainfall and the level of development and volume of visitors in the Kapalua Resort. The company’s water and sewage system infrastructure requires periodic and ongoing maintenance. Resort Amenities segment This 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 a 30,000 square foot full-service spa and a private pool-side dining beach club. History Maui Land & Pineapple Company, Inc. was founded in 1909.
maui land & pineapple co (MLP:New York)
200 Village Road
Maui, HI 96761
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