Maui Land & Pineapple narrowed its quarterly losses but saw revenues fall 41% due to suspended housing projects and reduced land sales activity.
- Land development revenues plummeted from $2.6 million to $257,000 after state suspension of Honokeana Homes housing project.
- Commercial real estate leasing remained stable at $2 million with 93% occupancy boosted by post-wildfire tenant relocations.
- Tourism-related rental income increased to $700,000 from $600,000 as visitor traffic continues recovering.
- Company is advancing drought-resistant agave farming and preparing raw land for future development despite higher operating costs.
Source: Tradingview
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