MAUI LAND & PINEAPPLE CO INC

Maui Land & Pineapple Company, Inc. entered into a Purchase and Sale Agreement with DC Kapalua 1 Property, LLC to sell real property in Kapalua, Maui, Hawaii. The sale includes 8.783 acres (Lot 2-D) for $10,000,000 and up to 3.5 additional acres at $1,138,565 per acre. The agreement includes a 90-day due diligence period and provisions for governmental approvals. Additionally, the deal involves a trademark license, a master lease for retail space, and amenity access for Kapalua Club members.

Maui Land & Pineapple Company, Inc. entered into a non-binding Memorandum of Understanding (MOU) with the County of Maui to negotiate the sale or lease of certain real property and water infrastructure assets in West Maui and Upcountry Maui. This initiative aims to enhance public water stewardship, increasing public ownership of West Maui's drinking water systems from 45% to 93%, and facilitate the development of much-needed housing. The agreement includes monetary and non-monetary consideration, such as water credits and land use support, with asset valuations to be determined by professional appraisals.

Maui Land & Pineapple Company reported a significantly reduced net loss of $(2.06) million, or $(0.10) per share, for the first quarter of 2026, compared to a net loss of $(8.64) million, or $(0.44) per share, in the prior year. The company highlighted progress in repositioning its asset portfolio, including over $11 million in contracted land sales and $12 million in new property listings. It also revised its reportable segments to enhance transparency and better reflect its business strategy.

Maui Land & Pineapple Company, Inc. reported a reduced net loss of $(2.059) million for the first quarter ended March 31, 2026, compared to $(8.640) million in the prior year, despite a decrease in total operating revenues to $3.405 million. The company highlighted significant progress in repositioning its asset portfolio, including over $11 million in contracted land sales and $12 million in new property listings. Additionally, Maui Land & Pineapple revised its reportable segments to four new operating segments—Land Development & Sales, Commercial Real Estate Leasing, Land Leasing & Management, and Agribusiness Ventures—to enhance transparency and align with its strategic plans.