Maui Land & Pineapple agrees to sell 45.67 acres in Kapalua for $40M

MAUI LAND & PINEAPPLE CO INC

Purchase price of $40M for Kapalua Central Resort property; buyer is EKN Development Group LLC.
Closing deadline is March 31, 2022; due diligence period up to 120 days.
EKN deposits $300K refundable within 5 days; additional $1.5M nonrefundable after acceptance.
Sale includes all existing easements, development rights, and entitlements appurtenant to the property.
No assurance the transaction will close; subject to customary conditions including title policy delivery.

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