Maui Land & Pineapple Company, Inc. Announces Strategic Evaluation of Water Source and Transmission Assets
MWN-AI** Summary
On September 10, 2025, Maui Land & Pineapple Company, Inc. (NYSE: MLP) announced a strategic evaluation of its water source and transmission assets, driven by the urgent need for improved water security on the island amid ongoing severe drought conditions. A dedicated subcommittee formed by the board of directors will explore potential sale or lease options for these essential water-related infrastructure assets, which began their review process in early 2025.
MLP boasts a significant portfolio of water assets across Maui, including the Pi‘iholo Well in Upcountry, capable of producing over 1 million gallons of water daily, and a range of high-quality groundwater wells and surface water systems in West Maui. These systems are crucial for supplying drinking water to Lahaina and providing irrigation to Kapalua and nearby areas. MLP's CEO, Race Randle, emphasized the company's century-long investment in developing and maintaining water infrastructure vital for local communities.
The newly formed subcommittee, chaired by Ken Ota—an independent director with over 30 years of expertise in water and irrigation systems—will assess how the sale of these assets might support other vital business initiatives, including the creation of much-needed housing. While a timeline for the evaluation is not yet established, MLP has indicated that further disclosures will be made as necessary.
Maui Land & Pineapple Company is committed to enhancing the resilience of Maui’s communities through responsible stewardship of its assets, which encompass approximately 22,000 acres of land and 247,000 square feet of commercial real estate. The company aims to ensure economic stability and sustainability while fostering deep connections within the local community, addressing the pressing needs for water security and housing availability in the region.
MWN-AI** Analysis
Maui Land & Pineapple Company, Inc. (NYSE: MLP) has recently initiated a strategic evaluation of its water source and transmission assets, which represents a pivotal moment for the company and its stakeholders. As a company that holds significant water-related infrastructure on Maui, the decision to potentially sell or lease these assets could be instrumental in addressing the acute water needs of the island's communities, especially amid ongoing drought conditions.
Investors should consider several factors before acting on MLP stocks. First, the company's extensive investments in water infrastructure highlight its commitment to local communities and environmental stewardship. Selling or leasing portions of these assets could free up capital to accelerate other initiatives, including housing development, which is critically needed on Maui. The balance between maintaining a sustainable water supply and furthering housing projects will likely garner investor interest, especially given the growing concern for local residents.
The strategic review is being led by experienced board member Ken Ota, who has a deep understanding of water systems, which adds credibility to the process. Investors may find confidence in the expertise driving this evaluation, potentially shielding the company's interests in a rapidly changing economic landscape.
However, the lack of a set timetable for concluding the evaluation is a cautionary note. Investors should remain vigilant for updates regarding potential sales and their impacts on MLP's long-term profitability. Moreover, any shifts in regulatory considerations regarding water rights and supply could also influence outcomes.
In conclusion, while MLP's strategic evaluation could present an opportunity for growth and community support, investors should closely monitor developments regarding asset sales and housing initiatives to better understand the viability and future direction of the company.
**MWN-AI Summary and Analysis is based on asking OpenAI to summarize and analyze this news release.
KAPALUA, Hawai‘i , Sept. 10, 2025 (GLOBE NEWSWIRE) -- Maui Land & Pineapple Company, Inc. (NYSE: MLP), today announced that a comprehensive strategic review has been underway and a subcommittee of the Company’s board of directors was created to identify options for the potential sale or lease of the Company’s water source and infrastructure assets. This review and marketing of certain assets for sale began in early 2025.
MLP owns critical water-related assets on Maui, including source, storage, and transmission systems. In Upcountry Maui, assets include the Pi‘iholo Well, with an estimated capacity of over 1 million gallons per day, along with land for additional well sites, pumps and storage facilities. West Maui water assets include a collection of high-quality groundwater wells and a surface water system which serves the County of Maui for a large portion of Lahaina’s drinking water along with irrigation use in Kapalua and surrounding areas.
“For more than a century, MLP has invested tens of millions of dollars to construct and responsibly manage critically important water infrastructure in communities across Maui,” said Race Randle, CEO of Maui Land & Pineapple Company, Inc. “With Maui communities in need of additional water sources and experiencing severe drought conditions, we’re hopeful that these assets may increase water security across the island.”
The new subcommittee will be chaired by independent director Ken Ota. Born and raised on Maui, Mr. Ota is a respected expert with more than 30 years of experience with water, wastewater, and irrigation systems.
“On behalf of the new subcommittee of the board, we believe the sale of certain water-related assets may support the acceleration of other priority business efforts including critically needed housing creation,” said Ken Ota, board member of Maui Land & Pineapple Company, Inc.
The Company has not set a timetable for concluding its evaluation. Additional disclosures are not anticipated unless and until the Company determines that further disclosure is appropriate or required.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements include, but are not limited to, statements regarding the Company’s ability to put its water-related and other assets into productive use. These forward-looking statements are based upon the current beliefs and expectations of management and are inherently subject to significant business, economic and competitive uncertainties, and contingencies, many of which are beyond the control of the Company. In addition, these forward-looking statements are subject to assumptions with respect to future business strategies and decisions that are subject to change. Actual results may differ materially from the anticipated results discussed in these forward-looking statements because of possible uncertainties. Factors that could cause actual results to differ materially from those expressed in the forward-looking statements are discussed in the Company's reports (such as Annual Reports on Form 10-K, Quarterly Reports on Form 10-Q and Current Reports on Form 8-K) filed with the SEC and available on the SEC's Internet site (http://www.sec.gov). We undertake no obligation to publicly update any forward-looking statement, whether written or oral, that may be made from time to time, whether because of new information, future developments or otherwise.
About Maui Land & Pineapple Company
Maui Land & Pineapple Company, Inc. (NYSE: MLP) is dedicated to the thoughtful stewardship of its portfolio, including over 22,000 acres of land along with approximately 247,000 square feet of commercial real estate. The Company envisions a future where Maui residents thrive in more resilient communities with sufficient housing supply, economic stability, food and water security, and deep connections between people and place. For over a century, MLP has built a legacy of thoughtful stewardship through conservation, agriculture, community building, and land management. The Company continues this legacy today with a mission to thoughtfully maximize the productive use of its assets to meet the critical needs of current and future generations.
Company assets include land for future residential communities and mixed-use projects within the world-renowned Kapalua Resort, home to luxury hotels such as The Ritz-Carlton Maui and Montage Kapalua Bay, pristine beaches, a network of walking and hiking trails, and the Pu‘u Kukui Watershed, the largest private nature preserve in Hawai‘i.
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CONTACT
| Investors: | Wade Kodama | Chief Financial Officer | Maui Land & Pineapple Company |
| e: wade@mauiland.com |
| Media: | Ashley Takitani Leahey | Vice President | Maui Land & Pineapple Company e: ashley@mauiland.com Dylan Beesley | Senior Vice President | Bennet Group Strategic Communications e: dylan@bennetgroup.com |
FAQ**
How does Maui Land & Pineapple Company Inc. (MLP) plan to ensure that the potential sale or lease of its water-related assets will enhance water security for the communities on Maui amidst ongoing drought conditions?
What specific criteria will the subcommittee of Maui Land & Pineapple Company Inc. (MLP) use to evaluate the options for selling or leasing its water source and infrastructure assets, and how will this impact future housing developments?
Can Maui Land & Pineapple Company Inc. (MLP) provide details on the anticipated timeline for concluding its strategic review regarding the water assets, and how it plans to communicate updates to stakeholders during this process?
In what ways does Maui Land & Pineapple Company Inc. (MLP) envision that the sale of its water-related assets will contribute to its broader mission of fostering resilient communities and promoting sustainability in Maui?
**MWN-AI FAQ is based on asking OpenAI questions about Maui Land & Pineapple Company Inc. (NYSE: MLP).
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