Maui Land & Pineapple saw revenues fall 41% in Q1 2026 due to suspended housing projects, though commercial properties benefited from wildfire-related tenant relocations and improving tourism traffic.
- Land development revenues plummeted to $257,000 from $2.6 million after the state suspended the Honokeana Homes housing project in April 2025.
- Commercial real estate stayed stable at $2 million revenue with 93% occupancy, helped by new leases from wildfire-displaced tenants.
- Tourism-related tenant rents increased to $700,000 from $600,000 as visitor traffic continues gradual recovery.
- The company is investing in land preparation and watershed conservation while developing drought-resistant agave cultivation.
- Overall net loss narrowed significantly to $2.1 million from $8.6 million in the prior year quarter.
Source: Yahoo
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