MAUI LAND & PINEAPPLE CO INC (MLP) SEC Filings & Earnings Calls

Project delay risk

“As of the date of this Quarterly Report, the project is on hold at the direction of the State of Hawaii, and we have not received an update on the project or an indication as to when the project will resume.” · word for word

Liquidity risk

“Our cash and cash equivalents were $3.3 million and $5.3 million at June 30, 2026 and December 31, 2025, respectively.” · word for word

Covenant waiver risk

“We received a covenant waiver from the bank for the six months ended June 30, 2026.” · word for word

Net loss driven by reinvestment; cash operating loss $1.2M

“underlying cash operating loss for the six months was approximately $1.2 million” · word for word

No material risks identified; executive change is routine.

Honokeana Homes project suspension by State of Hawaii continues to impact revenue and expenses.

“$2.4 million decrease in revenues with a $2.6 million decrease in expenses, which are directly attributed to the suspension of the Honokeana Homes Housing Project by the State of Hawaii in April 2025.” · word for word

Land management expenses increased significantly as raw land is prepared for utilization.

“Expenses related to land management... increased by $1.1 million, from $0.7 million to $1.8 million compared to the prior year as raw land is prepared for utilization and assets are positioned for productivity.” · word for word

Honokeana Homes project uncertainty

“As of the date of this Quarterly Report, the project is on hold at the direction of the State of Hawaii.” · word for word

Wildfire impact on tourism

“The wildfires impacted West Maui tourism and reduced percentage rents and licensing revenues for tourism-based tenants.” · word for word

Insider Pledge Concentration

“Currently Mr. Case has pledged an aggregate of 8,993,750 shares as collateral security for certain obligations to Bank of Hawaii and First Hawaiian Bank.” · word for word

Net loss increased due to pension funding expense; remaining $1.6M obligation in Q4 2026.

“Net loss increased by 43% to ($10.6) million driven by $6.9 million in pension expenses; final pension plan obligations scheduled to be funded in Q4 2026 at estimated cost of $1.6 million.”

Cash and investments decreased by $4.2M due to pension contributions and capital investments.

“Cash and Investments Convertible to Cash totaled $5.3 million on December 31, 2025, compared to $9.5 million at December 31, 2024, a decrease of $4.2 million.”

Wildfire Aftermath Uncertainty

“We expect the aftermath of the wildfires to continue to impact commercial activity throughout the island of Maui, and there is uncertainty as to how long it will take Maui to rebuild, return tourism to historic levels, and recover economically.” · word for word

State Project on Hold

“As of the date of this Annual Report, the project is on hold at the direction of the State of Hawaii.” · word for word

Affiliate Ownership Concentration

“Affiliates of our company owned, in the aggregate, a majority of our outstanding shares at December 31, 2025.” · word for word

Low Trading Volume

“The average daily trading volume in our common stock for the year ended December 31, 2025 was approximately 21,000 shares.” · word for word

Pension termination expense and remaining SERP obligation of $1.6M in Q4 2026.

“The SERP is scheduled to be terminated in the fourth quarter of 2026 at an estimated cost of $1.6 million.” · word for word

Relief Housing Project with State of Hawaii paused, impacting revenue and costs.

“Cost reimbursements from the Relief Housing Project with the State of Hawai‘i, which has been paused pending further direction from the State.” · word for word

Dependence on tourism recovery

“Leasing revenue growth is tied to tourism recovery; any downturn could impact results.”

Pension and postretirement benefit expenses

“Pension and other postretirement benefits expenses were $6.914 million for the nine months ended September 30, 2025, compared to $0.234 million for the same period in 2024.”

Liquidity risk

“Cash and cash equivalents decreased to $4.9 million from $6.8 million; credit facility matures December 2025.”