Maui Land & Pineapple Company, Inc. Announces Strategic Evaluation of Water Source and Transmission Assets

Core Viewpoint - Maui Land & Pineapple Company, Inc. (MLP) is conducting a strategic review to explore options for the potential sale or lease of its water source and infrastructure assets, which began in early 2025 [1][4]. Group 1: Company Assets - MLP owns critical water-related assets on Maui, including the Pi'iholo Well with a capacity of over 1 million gallons per day, and various groundwater wells and surface water systems that serve significant portions of Lahaina's drinking water and irrigation needs [2][3]. - The company has invested tens of millions of dollars over the past century to develop and manage essential water infrastructure across Maui [3]. Group 2: Strategic Intent - The newly formed subcommittee, chaired by Ken Ota, aims to evaluate the sale of water-related assets to support other business priorities, including the creation of much-needed housing [4]. - The company has not established a timeline for the evaluation process and will disclose further information only if deemed necessary [4]. Group 3: Company Vision - MLP manages over 22,000 acres of land and approximately 247,000 square feet of commercial real estate, with a vision for resilient communities that ensure housing supply, economic stability, and food and water security [6]. - The company continues its legacy of stewardship through conservation, agriculture, community building, and land management, aiming to maximize the productive use of its assets for current and future generations [6].