Maui Land & Pineapple
Owns Maui land, commercial properties, water assets, and emerging agave operations.
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Profile
Runs a small Maui real-estate platform across land development, commercial leasing, land management, and agribusiness. The portfolio is concentrated in Kapalua and Haliimaile, with execution shaped by entitlement timing, tenant demand, water-infrastructure decisions, conservation obligations, and local community needs.
Owns and operates a Maui-centered land platform built around Land Development and Sales, Commercial Real Estate Leasing, Land Leasing and Management, and Agribusiness Ventures. The asset base sits in West Maui and Upcountry Maui, with commercial space in Kapalua Resort and Haliimaile Town Center.
Generates activity through land planning and sales, tenant leasing, agricultural land leases, utilities, watershed and conservation work, resort amenities, and a blue agave venture. The operating model is a small team turning legacy plantation and resort assets toward productive local uses.
Depends on entitlement schedules, leasing absorption, infrastructure operations, and Maui public-policy decisions. Water assets are under negotiation with county authorities, and the business remains tied to community needs for housing, food, water, and conservation.
Company facts
Key statistics
Year to date −6.0% · Average volume (30d) 19.8K
Analysts
No analyst consensus on record.
Earnings
EPS
Revenue
History
| Report date | EPS est | EPS | Surprise | Revenue est | Revenue | Surprise | Next session |
|---|---|---|---|---|---|---|---|
| Aug 14, 2026Q2 FY26 | — | −$0.08 | — | — | $3.7M | — | −1.99% |
| Aug 13, 2026Q2 FY26 | — | −$0.19 | — | — | $7.1M | — | −1.99% |
| May 15, 2026Q1 FY26 | — | −$0.10 | — | — | $4.5M | — | +0.13% |
| Mar 30, 2026Q4 FY25 | — | −$0.11 | — | — | $3.4M | — | +0.98% |
Financial highlights
| 12 quarters | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | |
|---|---|---|---|---|---|---|---|
| Revenue | $5.8M | $4.6M | $4.5M | $4.5M | $3.4M | $3.7M | |
| Gross profit | $1.5M | $1.4M | $1.7M | $985.0K | −$11.0K | $627.0K | |
| Operating income | −$1.8M | −$711.0K | −$360.0K | −$1.7M | −$2.0M | −$1.8M | |
| Net income | −$8.6M | −$999.0K | $240.0K | −$1.2M | −$2.1M | −$1.6M | |
| Diluted EPS | −$0.44 | −$0.05 | $0.01 | −$0.06 | −$0.10 | −$0.08 | |
| Gross margin | 25.9% | 30.7% | 38.6% | 21.8% | -0.3% | 17.0% | |
| Operating margin | -30.7% | -15.4% | -8.0% | -37.5% | -59.2% | -48.6% |
Fiscal years (4-quarter sums)FY21 $12.4M · FY22 $21.0M · FY23 $9.3M · FY24 $11.6M · FY25 $19.5M
Revenue by product · Q2 FY26
Balance sheet, Jun 30, 2026Cash & short-term investments $3.3M · Total debt $9.3M · Total assets $49.6M · Shareholders' equity $31.1M
Dividends
No dividends on record.
Ownership
Shares outstanding 19.86M · Float 7.42M · 37.4% free float
A Form 4 total here can count shares the filer formally disclaims — an award voted by proxy, for instance — which the holder's own Schedule 13D/G excludes, so where the two disagree the schedule's smaller figure is used.
Top shareholders13F · 13D/G · Form 4
| Holder | Shares | % outstanding | Form | Filed |
|---|---|---|---|---|
| Stephen M. Case · director, 10 percent owner: | 11.98M | 60.29% | Form 4 | Mar 5, 2026 |
| Valueworks LLC | 1.20M | 6.03% | 13F | May 15, 2026 |
| TSP Capital Management Group, LLC | 1.10M | 5.55% | 13G | Jul 2, 2026 |
| BlackRock, Inc. | 545.0K | 2.74% | 13F | May 13, 2026 |
| Vanguard Capital Management LLC | 325.9K | 1.64% | 13F | May 15, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Dec 12, 2025 | Stephen M. Case | director, 10 percent owner: | +300 | $17.00 |
| Dec 11, 2025 | Stephen M. Case | director, 10 percent owner: | +5,000 | $16.79 |
| Dec 8, 2025 | Stephen M. Case | director, 10 percent owner: | +3,000 | $16.38 |
| Dec 9, 2025 | Stephen M. Case | director, 10 percent owner: | +450 | $16.29 |
| Dec 3, 2025 | Stephen M. Case | director, 10 percent owner: | +2,630 | $15.99 |
Peers
- Howard Hughes
Mixed-use communities and Honolulu condo development
- St. Joe
Coastal land development, leasing, and resort amenities
- Tejon Ranch
Large-scale land monetization, farming, and water assets
- Five Point
California planned communities with residential and commercial land
- Forestar Group
National residential lot development for homebuilders
- Gladstone Land
Farmland ownership and agricultural lease income
- Limoneira
Agribusiness, land monetization, and water rights
- Consolidated Water
Water infrastructure design, operations, and supply
CompareAfter-hours close
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Maui Land & Pineapple | $15.76 | +0.25% | $313.1M | — | — | 19.4 | −19.6% |
| Howard Hughes | $64.80 | −0.06% | $3.86B | 13.1 | 19.9 | 1.6 | +330.2% |
| St. Joe | $67.32 | −0.07% | $3.83B | 31.5 | — | 7.0 | +23.1% |
| Tejon Ranch | $16.20 | −0.06% | $437.5M | 71.6 | — | 7.7 | +71.7% |
| Five Point | $5.11 | −0.10% | $363.3M | 14.7 | — | 3.1 | +86.0% |
| Forestar Group | $28.63 | +0.17% | $1.46B | 8.6 | 10.1 | 0.8 | +4.2% |
| Gladstone Land | $8.99 | +0.13% | $386.9M | — | — | 4.4 | +3.2% |
| Limoneira | $13.78 | −0.18% | $249.9M | — | 71.4 | 1.9 | −31.9% |
| Consolidated Water | $29.85 | +0.30% | $476.0M | 29.8 | 21.1 | 3.7 | −2.2% |
| Median | 22.2 | 20.5 | 3.4 | +13.6% |