Maui Land & Pineapple Company
From Wikipedia, the free encyclopedia
Maui Land & Pineapple Company, Inc. (ML&P) is a land holding and operating company based in Maui, Hawaii, United States. It is dedicated to agriculture, resort operation, and the creation and management of holistic communities, and owns approximately 25,000 acres (100 km²) on the island of Maui. The company wholly owns two principal subsidiaries: Maui Pineapple Company, Ltd., which operates ML&P’s pineapple and other agricultural activities, and Kapalua Land Company, Ltd., which operates the Kapalua Resort community. ML&P also owns and manages the 9,881-acre (40 km²) Pu`u Kukui Watershed Preserve, which is the largest private nature preserve in the state of Hawaii.
Maui Land & Pineapple Company is a public company listed on the New York Stock Exchange (NYSE) under the symbol “MLP”. The company has a current market capitalization worth over $300 million. The company has existed for nearly 100 years.
Maui Land & Pineapple Company is structured into three operating segments: Agriculture, Resort, and Community Development. The Agriculture segment is operated through the Maui Pineapple Company and is engaged in growing, packing and marketing fresh pineapple. The Resort segment includes the operation of the golf resort community, Kapalua Resort, and is managed through the Kapalua Land Company. The Community Development segment involves the operation of all the company's real estate entitlement, development, construction, sales and leasing activities, as well as the operation of Kapalua Realty Company, a general brokerage real estate company, located within Kapalua Resort.
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[edit] Maui Pineapple Company
Maui Pineapple Company, Ltd. (MPC) is the USA’s largest grower, processor, and shipper of Hawaiian pineapples. MPC began in 1909 as the Keahua Ranch Company, Ltd, and became the Maui Pineapple Company in 1932. MPC currently cultivates and processes approximately 4,000 acres (16 km²) of two varieties of pineapple: extra-sweet Maui Gold‚ and Maui Organic Pineapple.
[edit] Kapalua Land Company
The Kapalua Land Company, Ltd. (KLC) operates the Kapalua Resort community, along with the development and sale of real estate on the Resort. KLC was established in 1975, and now manages the Resort holdings of over 700 homes, home sites, and condos; 2 golf courses; 3 beaches; tennis courts; shops and restaurants. Kapalua Resort also hosts the PGA Tour’s season opening Mercedes-Benz Championship event every January and, beginning October 2008, the LPGA Tour's Kapalua LPGA Classic.
[edit] Community Development
The Community Development division manages and develops ML&P’s land holdings. This includes the company’s real estate entitlement, development, construction, sales and leasing activities, as well as the operations of Kapalua Realty Company and the Public Utilities Commission regulated water and sewage transmission operations that service the resort.
ML&P’s projects are focused largely on the luxury real estate market within the central area of Kapalua Resort. This includes projects Kapalua Mauka, Honolua Village Center, Central Resort, Kapalua Trails and The Residences at Kapalua Bay. The Community Development division is also planning the proposed affordable and moderately priced residential and mixed use communities of Pulelehua and West Maui Village in West Maui and the expansion of the Hali`imaile community in Upcountry Maui.
[edit] History
Maui Land & Pineapple Company’s began with the entrepreneurial and agricultural activity of the Baldwin family, who arrived in Maui in 1835. The Baldwins started acquiring land in East Maui and West Maui, and over the next 100+ years they began cultivating pineapples through their Maui Pineapple Company, and expanding their land holdings, owning 22,600 acres (91 km²) of Maui land by 1933. In 1969, Maui Land & Pineapple Company, Inc. was created and went public, with Colin C. Cameron, a fifth-generation descendant of the Baldwin family, acting as its first president.
In 1975 ML&P incorporated the Kapalua Land Company, Ltd. as its subsidiary dedicated to resort development and in 1977, the Maui Pineapple Company, Ltd. as its subsidiary devoted to pineapple and other agricultural operations. 1975 is also when the company opened its first golf course; 2 other golf courses, homes, condos, and hotels followed over the next 2 decades. In 1988, ML&P dedicated 8,661 acres (35 km²) of its West Maui land, including Puu Kukui, the highest peak in the West Maui Mountains, to conservation--this area became the Puu Kukui Watershed Preserve, which remains the largest private nature preserve in Hawaii.
