Tag: kapalua resort

February 10, 2011 General Ag News and Notes, Stock Market Post a Comment

4 Real Estate Stocks Outpacing Rivals

An exotic sounding play lumped in with the usually, urban-centric commercial real estate managers, is Maui Land & Pineapple(MLP), the holding company of subsidiaries that engage in agriculture, community development and resort operations in Hawaii. Its shares are up 10% so far this year.

The company, founded in 1909, operates through two segments: an agricultural unit, Maui Pineapple Co. with extensive land holdings; and the developer of the exclusive destination resort property, the Kapalua Resort in Maui, Hawaii.

According to TheStreet’s ratings summary, the one analyst who follows it has a “strong sell.”

After disclosing severe financial constraints at the end of 2009, the company has been in turnaround mode. In the first nine months of 2010, it reported net income of $1.23 per share, compared with a net loss of $92.9 million, or a loss of $11.57 per share, for the first nine months of 2009.

4 Real Estate Stocks Outpacing Rivals – TheStreet

January 31, 2011 General Ag News and Notes Post a Comment

Maui Land & Pineapple loses management of golf course and may lay off workers

The owner of the two Kapalua Resort golf courses on Maui won’t retain Maui Land & Pineapple Co. to manage the facilities after March 31.

Maui Land notified employees last week that they may be terminated as part of the change, though Maui Land said in a statement today that it hasn’t determined how many employees will lose their jobs.

Troon Golf of Scottsdale, Ariz., will assume management of the Kapalua Bay Golf Course and Plantation Course.

Maui Land, in an effort to raise cash and pay down debt, sold both courses over the last two years to an affiliate of Japan-based retailer Fast Retailing Co. Ltd. with agreements to lease back and manage the properties until March 31

Maui Land & Pineapple loses management of golf course and may lay off workers – Hawaii News – Staradvertiser.com

November 1, 2010 General Ag News and Notes, Maui Gold Pineapple Post a Comment

MAUI LAND & PINEAPPLE CO INC – 10-Q – 20101102 – FORM

Management’s Discussion and Analysis of Financial Condition and Results of Operations

Overview of the Company

MAUI LAND &amp Pineapple Company, Inc. is a Hawaii corporation and the successor to a business organized in 1909. We are a landholding company. Our principal subsidiary is Kapalua Land Company, Ltd., the operator and developer of Kapalua Resort, a master-planned community in West Maui. Our reportable operating segments are Resort and Community Development. In December 2009, all of our Agriculture segment operations were ceased and the segment is reported as discontinued operations.

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September 22, 2010 General Ag News and Notes Post a Comment

Maui Land & Pine sells Kapalua Bay Golf Course

Maui Land & Pineapple Co. Inc. is selling the Kapalua Bay Golf Course to TY Management Corp. for $24.1 million.

The sale of the course and its maintenance facility at the Kapalua Resort on Maui’s northwest shore is expected to close by the end of September.

Maui Land will operate the golf course under a lease that runs through March 31.

“With this transaction, we are able to consolidate the ownership of both Kapalua golf courses with an esteemed partner,” said Warren Haruki, Maui Land’s chairman and interim chief executive officer, in a statement.

Maui Land sold last year the Plantation Course, also at the Kapalua Resort, to TY Management Corp., a Hawaii-based company.

The 6,600-yard, par 72 Bay Course, which opened in 1975, was designed by Arnold Palmer and Francis Duane.

The course has hosted many high-profile golf tournaments, including the Lincoln Mercury Kapalua International and the 2008 LPGA Kapalua Classic.

Maui Land & Pine sells Kapalua Bay Golf Course – Hawaii News – Staradvertiser.com

January 30, 2010 Agricultural Equipment, General Ag News and Notes, Organic Ag, Vegtables Post a Comment

ML&P stock investor taking over Kapalua Farms

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By HARRY EAGAR, Staff Writer

Pierre Omidyar, who invested in Maui Land & Pineapple Co. stock when the company was being pushed in a greener direction, is now supporting a for-profit/charitable combination that is taking over ML&P’s Kapalua Farms, one of the largest organic farms in the state.

Since ML&P also closed its Maui Pineapple Co. subsidiary, then leased much of its land and equipment to the upstart Haliimaile Pineapple Co. this month, the handover takes ML&P completely out of agriculture.

On Friday, Ulupono Sustainable Agriculture Development LLC, a subsidiary of the Ulupono Initiative, announced it would be assuming operations of Kapalua Farms, which not only supplies vegetables and eggs to ML&P’s Kapalua Resort but also conducts research into new methods of producing food on Maui. Ulupono Initiative is a Hawaii-focused social investment organization founded in June with backing from Omidyar and his wife, Pam. He was a founder of eBay, and they now live in Hawaii.

Warren Haruki, chairman and interim chief executive officer of ML&P, said, "We are pleased to partner with Ulupono Sustainable Agriculture Development as they assume operations of Kapalua Farms. Our desire was to find an operational partner that would be able to continue organic farming operations and to maintain Kapalua Farms as a community resource, employer and provider."

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