Maui Land & Pineapple agrees to sell 6.5-acre Kapalua property for $10M to Harvest at Kumulani Chapel

MAUI LAND & PINEAPPLE CO INC

Purchase price $10M for 6.5-acre Kapalua site with five existing buildings totaling ~12,000 sq ft; buyer currently leases property under ground lease.
Transaction includes 90-day due diligence, 730-day entitlement period, up to three 60-day extensions; closing 30 days after notice to proceed.
Initial deposit $300,000, additional $50,000 per extension; deposits applied to purchase price at closing, refundable unless buyer breach.
CEO Race Randle: 'Harvest at Kumulani Chapel exemplifies the Kapalua Resort... providing spiritual stability for generations.'

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

MAUI LAND & PINEAPPLE CO INC entered into Purchase and Sale Agreement and Escrow Instructions with Harvest at Kumulani Chapel valued at $10,000,000 (effective 2025-12-03).

Action: entry
Agreement: asset purchase
Counterparty: Harvest at Kumulani Chapel
Value: $10,000,000
Effective: 2025-12-03

Exact text from the filing

On December 3, 2025, Maui Land & Pineapple Company, Inc., a Delaware corporation (“Company”), entered into a Purchase and Sale Agreement and Escrow Instructions (“Purchase Agreement”) with Harvest at Kumulani Chapel, a Hawaii nonprofit corporation (“Buyer”), pursuant to which the Company agrees to sell to Buyer and Buyer agrees to purchase from the Company a 6.5-acre portion of land (“Property”), located in Kapalua, Lahaina, Hawaii.

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Source: SEC EDGAR

accession 0001437749-25-037265

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