secwatch.observer — SEC 8-K summary
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Issuer:     KAANAPALI LAND LLC (KANP)
CIK:        0001230058
Form:       8-K
Filed at:   2023-10-16T23:59:59+00:00
Accession:  0000892626-23-000028
Event type: other_material
Sentiment:  negative
Materiality: 0.80
Item codes: 8.01
LLM model:  deepseek-v4-flash:cloud@v2

Kaanapali Land reports Lahaina wildfire destroyed offices/coffee mill; $14.5M pension reversion net of $2.9M tax
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- Wildfire destroyed company's offices, coffee store building, and severely damaged personal property; no employee injuries; coffee processing disrupted for current year crop.
- Received $1M insurance advance from carrier; no assurance of full coverage for structures, equipment, or lost revenue.
- CWRM designated all six aquifer systems as Ground Water Management Areas; company applied for permits; wildfire may delay approval.
- Development plans: 295-acre KCF Mauka (61 agricultural lots) awaiting final County approval; 241-acre Puukolii Village (940 units) fully entitled but wildfire may impact marketability.
- Pension plan terminated; $14.5M reverted to company on Sept 15, 2023; $2.9M excise tax due Oct 2023; net cash available for working capital and development.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1230058/000089262623000028/0000892626-23-000028-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1230058/000089262623000028/kaana8k-20231004.htm
  HTML page:      https://secwatch.observer/filing/0000892626-23-000028

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