Maui Land & Pineapple (MLP) risk factors, FY2024 10-K

Maui Land & Pineapple's FY2024 10-K, filed Mar 31, 2025, lists 20 risk factors in 3 groups. There is no earlier 10-K to compare against, so the most company-specific risks are listed below.

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Risk factors listed
203 groups
Section length
4k wordsItem 1A

Maui Land & Pineapple's biggest risks in the FY2024 10-K

  • Maui Land & Pineapple Co. faces extreme geographic concentration risks on Maui, including recent wildfires and natural disasters.

The risks most specific to Maui Land & Pineapple

  • Risks Related to our Business

    Real estate investments are subject to numerous risks and we are negatively impacted by downturns in the real estate market

    Our real estate development, sales, and leasing operations are concentrated on Maui and in Hawai‘i, making us vulnerable to local economic downturns.

  • Risks Related to our Business

    acts of God, such as wildfires as recently experienced on Maui, tsunamis, hurricanes, earthquakes, and other natural disasters, including the impacts of the COVID-19 pandemic and its variants

    Natural disasters such as wildfires recently experienced on Maui, tsunamis, and hurricanes could severely disrupt our luxury real estate development plans.

  • Risks Related to our Business

    If we are unable to complete land development projects within forecasted time and budget expectations, if at all, our financial results may be negatively affected

    Construction delays, cost overruns, or failure to secure water availability could prevent us from completing land development projects within budget.

  • Risks Related to our Business

    If we are unable to obtain required land use approvals at reasonable costs, or at all, our operating results would be adversely affected

    The financial performance of our Land Development and Sales segment depends on obtaining costly and time-consuming discretionary land use approvals.

  • Risks Related to our Business

    If we are unable to successfully compete with other developers of real estate in Maui, our financial results could be materially adversely affected

    We face significant competition from larger, better-capitalized developers of luxury resort real estate properties on Maui and across Hawai‘i.

  • Risks Related to our Business

    We may be subject to certain environmental regulations under which we may have additional liability and experience additional costs for land development

    Environmental regulations could impose substantial liabilities and cleanup costs for hazardous or toxic substances on our properties.

  • Risks Related to our Business

    Market volatility of asset values and interest rates affect the funded status of our defined benefit pension plans and could, under certain circumstances, have a material adverse effect on our financial condition

    Market volatility in asset values and interest rates impacts our defined benefit pension plans, for which the Board approved termination in 2023.

  • Risks Relating to our Stock

    Share ownership by our affiliates make it more difficult for third parties to acquire us or effectuate a change of control that might be viewed favorably by other stockholders

    Affiliates owning a majority of our outstanding shares can block or delay third-party acquisition proposals or changes of control.

  • Risks Relating to our Stock

    We do not anticipate declaring any cash dividends on our common stock

    Our credit facility contains covenants prohibiting us from paying cash dividends without lender approval.

All 20 risk factors

Headings as the filing states them, in filing order.

Risks Related to our Business

  1. 01Unstable macroeconomic market conditions could materially and adversely affect our operating results
  2. 02Real estate investments are subject to numerous risks and we are negatively impacted by downturns in the real estate market
  3. 03acts of God, such as wildfires as recently experienced on Maui, tsunamis, hurricanes, earthquakes, and other natural disasters, including the impacts of the COVID-19 pandemic and its variants
  4. 04We have previously been involved in joint ventures and may be subject to risks associated with future joint venture relationships
  5. 05a joint venture or venture partner could lose key personnel
  6. 06If we are unable to complete land development projects within forecasted time and budget expectations, if at all, our financial results may be negatively affected
  7. 07If we are unable to obtain required land use approvals at reasonable costs, or at all, our operating results would be adversely affected
  8. 08If we are unable to successfully compete with other developers of real estate in Maui, our financial results could be materially adversely affected
  9. 09We may be subject to certain environmental regulations under which we may have additional liability and experience additional costs for land development
  10. 10Changes in weather conditions or natural disasters could adversely impact and materially affect our business, financial condition, and results of operations
  11. 11Our insurance coverages may be inadequate to cover any losses we incur
  12. 12Unauthorized use of our trademarks could negatively impact our businesses
  13. 13Market volatility of asset values and interest rates affect the funded status of our defined benefit pension plans and could, under certain circumstances, have a material adverse effect on our financial condition
  14. 14Changes in U.S. accounting standards may adversely impact us
  15. 15Even if we are not targeted directly, cyber-attacks on the U.S. government, financial markets, financial institutions, or other businesses, including our tenants, vendors, software creators, cloud providers, and other third parties with whom we do business, could disrupt our normal business operations and networks

Risks Relating to our Stock

  1. 16Our stock price has been subject to significant volatility
  2. 17Share ownership by our affiliates make it more difficult for third parties to acquire us or effectuate a change of control that might be viewed favorably by other stockholders
  3. 18Trading in our stock over the last twelve months has been limited, so investors may not be able to sell as much stock as they want at prevailing prices
  4. 19We do not anticipate declaring any cash dividends on our common stock
  5. 20We may need additional funds which, if available, could result in significant dilution to our stockholders, have superior rights to our common stock and contain covenants that restrict our operations

Other Maui Land & Pineapple 10-Ks

  • FY2025 10-K risk factors
    20 risks1 reworded

    The sole risk change updates affiliate share ownership figures and discloses that director Steve Case pledged 8,993,750 shares as collateral.

    Filed Apr 01, 2026

About this page

The headings are the filing's own. The one-line readings and the overview are automated and can be wrong: read Item 1A of the 10-K for the exact wording.