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.'

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