Maui Land & Pineapple Company, Inc. Announces Strategic Evaluation of Water Source and Transmission Assets
Maui Land & Pineapple Company (NYSE: MLP) has announced a strategic review of its water-related assets for potential sale or lease. The company owns significant water infrastructure in Maui, including the Pi'iholo Well in Upcountry Maui with a capacity exceeding 1 million gallons per day, and West Maui assets comprising groundwater wells and a surface water system serving Lahaina's drinking water needs.
A new board subcommittee, chaired by independent director Ken Ota, will oversee the evaluation process. The initiative, which began in early 2025, aims to enhance water security across the island while potentially redirecting resources toward other priorities, including housing development. The company has not established a specific timeline for completing the evaluation.
Maui Land & Pineapple Company (NYSE: MLP) ha annunciato una revisione strategica delle sue attività legate all'acqua per valutarne la vendita o l'affitto. La società possiede infrastrutture idriche rilevanti a Maui, tra cui il pozzo Pi'iholo nell'Upcountry Maui, con una capacità superiore a 1 milione di galloni al giorno, e beni nel West Maui costituiti da pozzi di acqua sotterranea e da un sistema di acque superficiali che fornisce l'acqua potabile a Lahaina.
Un nuovo sottocomitato del consiglio, presieduto dal consigliere indipendente Ken Ota, supervisionerà il processo di valutazione. L'iniziativa, avviata all'inizio del 2025, mira a rafforzare la sicurezza idrica su tutta l'isola e, al contempo, potrebbe permettere di riallocare risorse verso altre priorità, come lo sviluppo di alloggi. La società non ha fissato una data precisa per il completamento della valutazione.
Maui Land & Pineapple Company (NYSE: MLP) ha anunciado una revisión estratégica de sus activos relacionados con el agua para evaluar su posible venta o arrendamiento. La compañía posee infraestructuras hídricas importantes en Maui, incluido el pozo Pi'iholo en Upcountry Maui, con una capacidad superior a 1 millón de galones por día, y activos en West Maui que comprenden pozos de agua subterránea y un sistema de aguas superficiales que abastece el agua potable de Lahaina.
Un nuevo subcomité del consejo, presidido por el director independiente Ken Ota, supervisará el proceso de evaluación. La iniciativa, iniciada a principios de 2025, busca mejorar la seguridad hídrica en toda la isla y, posiblemente, redirigir recursos hacia otras prioridades, incluido el desarrollo de viviendas. La compañía no ha establecido un calendario específico para completar la evaluación.
Maui Land & Pineapple Company (NYSE: MLP)는 매각 또는 임대 가능성을 검토하기 위해 자사의 수자원 관련 자산에 대한 전략적 검토를 발표했습니다. 이 회사는 마우이 섬에 중요한 수자원 인프라를 보유하고 있으며, 그중에는 하루 100만 갤런 이상의 용량을 가진 업컨트리 마우이의 Pi'iholo 우물과 라하이나의 식수를 공급하는 지하수 우물 및 지표수 시스템으로 구성된 웨스트 마우이 자산이 포함됩니다.
독립 이사인 Ken Ota가 위원장을 맡는 새로운 이사회 소위원회가 평가 과정을 감독할 예정입니다. 2025년 초에 시작된 이 이니셔티브는 섬 전체의 물 안전성을 강화하는 것을 목표로 하며, 동시에 주택 개발을 포함한 다른 우선순위로 자원을 전환할 가능성도 열어둡니다. 회사는 평가 완료에 대한 구체적인 일정은 제시하지 않았습니다.
Maui Land & Pineapple Company (NYSE: MLP) a annoncé une revue stratégique de ses actifs liés à l'eau en vue d'une éventuelle vente ou location. La société possède d'importantes infrastructures hydrauliques à Maui, notamment le puits Pi'iholo à Upcountry Maui, d'une capacité supérieure à 1 million de gallons par jour, ainsi que des actifs à West Maui comprenant des puits d'eau souterraine et un système d'eaux de surface desservant l'eau potable de Lahaina.
Un nouveau sous-comité du conseil, présidé par l'administrateur indépendant Ken Ota, supervisera le processus d'évaluation. L'initiative, lancée début 2025, vise à renforcer la sécurité de l'approvisionnement en eau sur l'île tout en pouvant permettre de réaffecter des ressources vers d'autres priorités, notamment le développement du logement. La société n'a pas fixé de calendrier précis pour l'achèvement de l'évaluation.
Maui Land & Pineapple Company (NYSE: MLP) hat eine strategische Überprüfung seiner wasserbezogenen Vermögenswerte angekündigt, um einen möglichen Verkauf oder eine Vermietung zu prüfen. Das Unternehmen besitzt bedeutende Wasserinfrastruktur auf Maui, darunter den Pi'iholo-Brunnen in Upcountry Maui mit einer Kapazität von über 1 Million Gallonen pro Tag sowie Anlagen in West Maui, bestehend aus Grundwasserbrunnen und einem Oberflächenwassersystem, das die Trinkwasserversorgung von Lahaina sicherstellt.
Ein neues Unterkomitee des Vorstands, geleitet vom unabhängigen Direktor Ken Ota, wird den Bewertungsprozess überwachen. Die Anfang 2025 gestartete Initiative zielt darauf ab, die Wassersicherheit auf der gesamten Insel zu verbessern und möglicherweise Mittel für andere Prioritäten, darunter Wohnungsbau, umzulenken. Das Unternehmen hat keinen konkreten Zeitplan für den Abschluss der Prüfung festgelegt.
- Ownership of critical water infrastructure assets with significant daily capacity
- Potential to monetize water assets through sale or lease
- Strategic focus on addressing Maui's water security needs
- Opportunity to redirect resources toward housing development
- Uncertainty regarding timeline and outcome of the strategic review
- Potential divestment of long-held strategic assets
Insights
MLP is exploring selling water assets to enhance shareholder value and potentially fund housing initiatives amid Maui's water security challenges.
Maui Land & Pineapple's strategic review of its water assets represents a significant potential transformation of its business model. The company owns critical water infrastructure including the Pi'iholo Well with
The creation of a dedicated board subcommittee chaired by Ken Ota—who brings 30+ years of water systems expertise and local knowledge—signals serious consideration of monetization options. The timing is strategic, as water security concerns heighten across the island, potentially maximizing asset valuation. Management's mention of using proceeds to accelerate "critically needed housing creation" suggests a possible strategic pivot toward real estate development, which could generate higher returns than maintaining water infrastructure.
From a financial perspective, this represents a potential unlocking of undervalued assets from MLP's balance sheet. The company has invested
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
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