MAUI LAND & PINEAPPLE CO INC 8-K

What Happened
Maui Land & Pineapple Company, Inc. (MLP) announced on June 2, 2026 that it entered into a Purchase and Sale Agreement with DC Kapalua 1 Property, LLC to sell certain real property in Kapalua, Maui. The primary parcel (Lot 2-D) will be sold for $10,000,000; the buyer may also purchase up to 3.5 additional acres at $1,138,565 per acre. The agreement includes a 90‑day due diligence period and requires the buyer to deliver an Acceptance Notice before pursuing governmental approvals for development.

Key Details

• Buyer: DC Kapalua 1 Property, LLC; Agreement filed in an 8-K dated June 2, 2026.
• Price: $10,000,000 for Lot 2‑D; Additional land priced at $1,138,565 per acre (up to 3.5 acres).
• Process/timing: 90‑day due diligence period; buyer must deliver Acceptance Notice within that period; closing contingent on required approvals.
• Other terms: customary earnest money deposits (partially non‑refundable after Acceptance Date); includes a non‑exclusive trademark license, a master lease for new street‑front retail to MLP, and buyer-provided amenities access for Kapalua Club members. The full Purchase Agreement will be filed as an exhibit to MLP’s Form 10‑Q by August 14, 2026.

Why It Matters
This transaction is a material real‑estate sale for MLP that could generate immediate cash proceeds and change the company’s land holdings in Kapalua. However, the sale is subject to the buyer’s due diligence, governmental approvals and other closing conditions, so the deal may be delayed or terminated if conditions aren’t met. Investors should watch MLP’s upcoming 10‑Q and future disclosures for the full agreement, any closing updates, and how proceeds or lease arrangements will affect MLP’s financials.