Maui Land & Pineapple sells 30-acre parcel to CEO Race Randle for $1.2M

MAUI LAND & PINEAPPLE CO INC

Sale to CEO of 30-acre unimproved land in Lahaina, Hawaii for $1.2M; price exceeds FMV per independent appraisal.
$50k initial deposit, additional $50k after 90-day due diligence; deposit refundable if buyer backs out during diligence.
Transaction includes value true-up at 5th year, long-term occupancy requirement, and shared appreciation on early sale.
Board approved appraisal confirming purchase price above current fair market value as of effective date.

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