Monitor progress on the $20M in escrowed land sales and the potential water asset sale to the County of Maui, as these are the primary near-term catalysts. The company's cash position is declining and debt is rising, so any delays in closing these transactions could pressure the stock.
Price Chart
Executive Summary
Maui Land & Pineapple reported a net loss of $3.7M for H1 2026, improved from a $9.6M loss in H1 2025 due to the absence of pension termination charges. Total operating revenue fell 32% YoY to $7.1M, driven by the pause of the Honokeana Homes Temporary Housing Project, though recurring commercial real estate and land leasing revenue remained stable at $6.6M. The company is investing in development projects and an agave venture, with $20M in contracted land sales in escrow, but the lack of consensus estimates and declining revenue make this a neutral-to-bearish report with limited near-term catalysts.
Key Financial Metrics
Key Facts
- Total operating revenue declined 32% YoY to $7.1M for H1 2026 from $10.4M in H1 2025.
- Net loss improved to $3.7M from $9.6M YoY, primarily due to the absence of $7.5M in pension termination charges.
- Recurring revenue from commercial real estate leasing and land leasing was $6.6M, with commercial occupancy at 93%.
- The company has $20M in contracted land sales in escrow, including a $10M parcel for Harvest Church and a $10M Kapalua parcel.
- Adjusted EBITDA was negative $1.1M for H1 2026, compared to positive $0.9M in H1 2025.
- Cash and cash equivalents fell to $3.3M from $5.3M at year-end 2025, while the line of credit balance doubled to $8.5M.
- The company invested $1.6M in development projects and $0.8M in its agave venture during H1 2026.
Financial Impact
Revenue decline of $3.3M YoY driven by project pause; net loss improved by $5.9M due to non-recurring pension charges; cash burn of ~$2M in H1 2026.
Risk Factors
- Land sales in escrow may fail to close due to conditions, delaying cash inflows.
- Rising debt ($8.5M drawn on line of credit) and negative cash flow increase financial risk.
- Agave venture is pre-revenue and requires continued investment with uncertain returns.
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 1 press release from GlobeNewswire.
| Document | Accession Number |
|---|---|
| PRESS-RELEASE Data (Synthetic) | press-3345634 |
Track record builds as more directional reports settle.
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 16, 2026 11d ago | SC 13G/A | $14.70 | awaiting T+60 | — | $14.15 (−3.74%) |
Aug 14, 2026 10w ago | Press Release | $15.98 | awaiting T+60 | — | $14.15 (−11.45%) |
Jun 9, 2026 20w ago | Press Release | $17.73 $16.44 | ▼ −7.28% | ▼ −13.86% | $14.15 (−20.19%) |
Jun 9, 2026 20w ago | 8-K | $17.73 $16.44 | ▼ −7.28% | ▼ −13.86% | $14.15 (−20.19%) |
Jun 2, 2026 21w ago | 8-K | $16.70 $15.84 | ▼ −5.15% | ▼ −7.65% | $14.15 (−15.27%) |
May 15, 2026 23w ago | 8-K | $14.97 $15.95 | ▼ −6.55% | ▼ −1.70% | $14.15 (+5.48%) |
May 15, 2026 23w ago | Press Release | $14.97 $15.95 | ▼ −6.55% | ▼ −1.70% | $14.15 (+5.48%) |
Apr 1, 2026 29w ago | Press Release | $16.10 $18.13 | ▲ +12.61% | ▼ −0.77% | $14.15 (−12.11%) |
US Market Status
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