Kaanapali Land (KANP) 10-K 30 Mar 22 2021 FY Annual report Financial data

Cover

Cover - USD ($)	12 Months Ended
	Dec. 31, 2021	Mar. 30, 2022	Jun. 30, 2021
Cover [Abstract]
Document Type	10-K
Amendment Flag	false
Document Annual Report	true
Document Transition Report	false
Document Period End Date	Dec. 31, 2021
Document Fiscal Period Focus	FY
Document Fiscal Year Focus	2021
Current Fiscal Year End Date	--12-31
Entity File Number	0-50273
Entity Registrant Name	Kaanapali Land, LLC
Entity Central Index Key	0001230058
Entity Tax Identification Number	01-0731997
Entity Incorporation, State or Country Code	DE
Entity Address, Address Line One	900 N. Michigan Ave.
Entity Address, City or Town	Chicago
Entity Address, State or Province	IL
Entity Address, Postal Zip Code	60611
City Area Code	312
Local Phone Number	915-1987
Title of 12(b) Security	N/A
Trading Symbol	N/A
Security Exchange Name	NONE
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Public Float			$ 0
Entity Common Stock, Shares Outstanding		1,792,613
Auditor Attestation Flag	false
Auditor Firm ID	248
Auditor name	GRANT THORNTON LLP
Auditor location	Chicago, Illinois

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Assets
Cash and cash equivalents	$ 16,997	$ 17,715
Restricted cash	840	902
Property, net	62,091	62,660
Pension plan assets	19,946	17,531
Other assets	7,322	3,340
Total assets	107,196	102,148
Liabilities
Accounts payable and accrued expenses	365	742
Deposits and deferred gains	1,737	1,987
Deferred income taxes	9,927	9,101
Other liabilities	14,958	11,799
Total liabilities	26,987	23,629
Common stock, at 12/31/21 and 12/31/20   Shares authorized – unlimited, Class C shares       52,000; shares issued and outstanding 1,792,613       in 2021 and 2020, Class C shares issued and       outstanding 52,000 in 2021 and 2020
Additional paid-in capital	5,471	5,471
Accumulated other comprehensive income (loss),    net of tax	2,298	946
Accumulated earnings	71,698	71,440
Stockholders’ equity	79,467	77,857
Non-controlling interests	742	662
Total equity	80,209	78,519
Total liabilities and stockholders’ equity	$ 107,196	$ 102,148

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - shares	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Common stock shares authorized	Unlimited	Unlimited
Common stock, shares issued	1,792,613	1,792,613
Common stock, shares outstanding	1,792,613	1,792,613
Common Class C [Member]
Common stock, shares authorized	52,000	52,000
Common stock, shares issued	52,000	52,000
Common stock, shares outstanding	52,000	52,000

Consolidated Statements of Oper

Consolidated Statements of Operations - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Revenues:
Sales	$ 4,576	$ 2,638	$ 3,815
Interest and other income	177	715	369
	4,753	3,353	4,184
Cost and expenses:
Cost of sales	5,217	4,461	4,471
Selling, general and administrative	(777)	4,132	4,564
Depreciation and amortization	269	218	201
	4,709	8,811	9,236
Operating income (loss) before income taxes	44	(5,458)	(5,052)
Income tax benefit (expense)	(350)	959	1,182
Net loss	(306)	(4,499)	(3,870)
Less:  Net loss attributable to non-controlling     interests	(551)	(759)	(243)
Net loss attributable to stockholders	$ 245	$ (3,740)	$ (3,627)
Net income (loss) per share – basic and diluted	$ 0.13	$ (2.03)	$ (1.97)

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income (Loss) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Income Statement [Abstract]
Net loss	$ (306)	$ (4,499)	$ (3,870)
Other comprehensive income (loss):
Net unrealized gains on pension plan assets	1,827	1,601	1,844
Income tax expense related to   items of other comprehensive income	(475)	(416)	(480)
Other comprehensive income, net of tax	1,352	1,185	1,364
Comprehensive income (loss)	1,046	(3,314)	(2,506)
Comprehensive loss attributable to   non-controlling interests	(551)	(759)	(243)
Comprehensive income (loss) attributable to   stockholders	$ 1,597	$ (2,555)	$ (2,263)

Consolidated Statements of Stoc

Consolidated Statements of Stockholders' Equity - USD ($) $ in Thousands	Common Stock [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]	AOCI Attributable to Parent [Member]	Parent [Member]	Noncontrolling Interest [Member]	Total
Beginning balance, value at Dec. 31, 2018		$ 5,471	$ 78,792	$ (1,603)	$ 82,660	$ 894	$ 83,554
Effect of consolidat-   ing Kaanapali   Coffee Farms   Lot Owners’   Association			8		8	410	418
Other comprehensive   income, net of tax				1,364	1,364		1,364
Net income (loss)			(3,627)		(3,627)	(243)	(3,870)
Ending balance, value at Dec. 31, 2019		5,471	75,173	(239)	80,405	1,061	81,466
Effect of consolidat-   ing Kaanapali   Coffee Farms   Lot Owners’   Association			7		7	360	367
Other comprehensive   income, net of tax				1,185	1,185		1,185
Net income (loss)			(3,740)		(3,740)	(759)	(4,499)
Ending balance, value at Dec. 31, 2020		5,471	71,440	946	77,857	662	78,519
Effect of consolidat-   ing Kaanapali   Coffee Farms   Lot Owners’   Association			13		13	631	644
Other comprehensive   income, net of tax				1,352	1,352		1,352
Net income (loss)			245		245	(551)	(306)
Ending balance, value at Dec. 31, 2021		$ 5,471	$ 71,698	$ 2,298	$ 79,467	$ 742	$ 80,209

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Cash flows from operating activities:
Net loss	$ (306)	$ (4,499)	$ (3,870)
Adjustments to reconcile net loss to net cash    provided by (used in) operating activities:
Proceeds from property sales	1,040
Gain on property sales	(303)
Net periodic pension cost (credit)	(588)	(421)	306
Depreciation and amortization	269	218	201
Deferred income tax benefit	350	(959)	(1,182)
Changes in operating assets and liabilities:
Other assets	(3,982)	763	(151)
Accounts payable, accrued expenses, deposits,       deferred gains and other	2,532	(520)	(141)
Net cash used in operating activities	(988)	(5,418)	(4,837)
Cash flows from investing activities:
Property additions	(436)	(680)	(641)
Net cash used in investing activities	(436)	(680)	(641)
Cash flows from financing activities:
Contributions	644	471	418
Distributions		(104)
Net cash provided by financing activities	644	367	418
Net decrease in cash and cash equivalents	(780)	(5,731)	(5,060)
Cash, cash equivalents and restricted cash             at beginning of year	18,617	24,348	29,408
Cash, cash equivalents and restricted cash             at end of year	$ 17,837	$ 18,617	$ 24,348

Summary of Significant Accounti

Summary of Significant Accounting Policies	12 Months Ended
	Dec. 31, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Summary of Significant Accounting Policies	(1) Summary of Significant Accounting Policies Organization and Basis of Accounting Kaanapali Land, LLC ("Kaanapali Land"), a Delaware limited liability company is the reorganized entity resulting from the Joint Plan of Reorganization of Amfac Hawaii, LLC (now known as KLC Land Company, LLC ("KLC Land")), certain of its subsidiaries (together with KLC Land, the "KLC Debtors") and FHT Corporation ("FHTC" and, together with the KLC Debtors, the "Debtors") under Chapter 11 of the Bankruptcy Code, dated June 11, 2002 (as amended, the "Plan"). The Plan was filed jointly by all Debtors to consolidate each case for joint administration in the Bankruptcy Court in order to (a) permit the petitioners to present a joint reorganization plan that recognized, among other things, the common indebtedness of the debtors (i.e. the Certificate of Land Appreciation Notes ("COLAs") and Senior Indebtedness) and (b) facilitate the overall administration of the bankruptcy proceedings. As indicated in the Plan, Kaanapali Land has elected to be taxable as a corporation. The Plan was confirmed by the Bankruptcy Court by orders dated July 29, 2002 and October 30, 2002 (collectively, the "Order") and became effective November 13, 2002 (the "Plan Effective Date"). During August 2005, pursuant to a motion for entry of final decree, the bankruptcy cases were closed. There are 1,792,613 52,000 The accompanying consolidated financial statements include the accounts of Kaanapali Land and all of its subsidiaries and its predecessor (collectively, the "Company"), which include KLC Land and its wholly-owned subsidiaries. The Kaanapali Coffee Farms Lot Owners’ Association is consolidated into the accompanying consolidated financial statements. The interests of third party owners are reflected as non-controlling interests. All significant intercompany transactions and balances have been eliminated in consolidation. The Company's continuing operations are in two business segments - Agriculture and Property. The Agriculture segment remains engaged in farming, harvesting and milling operations relating to coffee orchards on behalf of the applicable land owners. The Company also cultivates, harvests and sells bananas and citrus fruits and engages in certain ranching operations. The Property segment primarily develops land for sale and negotiates bulk sales of undeveloped land. The Property and Agriculture segments operate exclusively in the State of Hawaii. For further information on the Company's business segments see Note 8. Cash and Cash Equivalents The Company considers as cash equivalents all investments with maturities of three months or less when purchased. Included in this balance as of December 31, 2021 is a money market fund for $9,400 Revenue Recognition Revenue from real property sales is recognized at the time of closing when control of the property transfers to the customer. After closing of the sale transaction, the Company has no remaining performance obligation. Other revenues are recognized when control of goods or services transfers to the customers, in the amount that the Company expects to receive for the transfer of goods or provision of services. Revenue recognition standards require entities to recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled to receive in exchange. The revenue recognition standards have implications for all revenues, excluding those that are under the specific scope of other accounting standards. The Company’s revenues that were subject to revenue recognition standards for the years ended December 31, 2021, 2020 and 2019, were as follows (in thousands): Years ended December 31, 2021 2020 2019 Sales of real estate $ 1,040 $ -- $ -- Coffee and other crop sales 2,557 1,873 2,909 Total $ 3,597 $ 1,873 $ 2,909 The revenue recognition standards require the use of a five-step model to recognize revenue from customer contracts. The five-step model requires that the Company (i) identify the contract with the customer, (ii) identify the performance obligations in the contract, (iii) determine the transaction price, including variable consideration to the extent that it is probable that a significant future reversal will not occur, (iv) allocate the transaction price to the respective performance obligations in the contract, and (v) recognize revenue when (or as) the Company satisfies the performance obligation. Lease Accounting In February 2016, the Financial Accounting Standards Board (“FASB”) updated Accounting Standards Codification (“ASC”) Topic 842 Leases (ASU 2016-02). Accounting Standards Update (“ASU”) 2016-02 requires lessees to record operating and financing leases as assets and liabilities on the balance sheet and lessors to expense costs that are not direct leasing costs. Subsequently, the FASB issued additional ASUs that further clarified the original ASU. The ASUs became effective for the Company on January 1, 2019. Upon adoption of the lease ASUs, the Company elected the practical expedients allowable under the ASUs, which included the optional transition method permitting January 1, 2019 to be its initial application date. The adoption of this guidance did not result in an adjustment to retained earnings. Additionally, the Company elected the package of practical expedients, which permits the Company not to reassess expired or existing contracts continuing a lease, the lease classification for expired or existing contracts, and initial direct costs for any existing leases. Further, the Company elected the practical expedient regarding short-term leases, which allows lessees to elect not to apply the balance sheet recognition requirements in ASC 842 to short-term leases. Finally, under ASC 842, lessors are required to continually assess collectability of lessee payments, and, if operating lease payments are not probable of collection, to only recognize into income the lesser of (i) straight-line rental income or (ii) lease payments received to date. The adoption of this guidance did not have a material impact on the Company’s consolidated financial statements. The Company’s lease arrangements, both as lessor and as lessee, are short-term leases. The Company leases land to tenants under operating leases, and the Company leases property, primarily office and storage space, from lessors under operating leases. During the years ended December 31, 2021, 2020 and 2019, the Company recognized $ 835 659 738 57 70 79 Recently Issued Accounting Pronouncements In June 2016, the FASB updated ASC Topic 326 Financial Instruments – Credit Losses with ASU 2016-13 Measurement of Credit Losses on Financial Instruments (ASU 2016-13). ASU 2016-13 enhances the methodology of measuring expected credit losses to include the use of forward-looking information to better inform credit loss estimates. ASU 2016-13 is effective for annual periods beginning after December 15, 2019 for public companies except for smaller reporting companies, whose effective date will be periods beginning after December 15, 2022. While the Company is currently evaluating the effect that implementation of this update will have on its consolidated financial statements, no significant impact is anticipated. In August 2018, the FASB issued ASU 2018-14, Compensation - Retirement Benefits - Defined Benefit Plans - General (Subtopic 715-20), which modifies the disclosure requirements for employers that sponsor defined benefit pension plans and other postretirement plans. The guidance is effective for fiscal years beginning after December 15, 2020 with early adoption permitted. The adoption of ASU 2018-14 did not have a material impact on the Company’s consolidated financial statements. In December 2019, the FASB ASU 2019-12, Income Taxes (Topic 740) - Simplifying the Accounting for Income Taxes, as part of its initiative to reduce complexity in the accounting standards. The guidance is effective for fiscal years beginning after December 15, 2020 with early adoption permitted. The adoption of ASU 2019-12 did not have a material impact on the Company’s consolidated financial statements. In March 2020, FASB issued ASU 2020-04, Reference Rate Reform (ASU 2020-04) which provides optional expedients and exceptions for applying U.S. GAAP to contacts, hedging relationships, and other transactions affected by the discontinuance of LIBOR or another referenced rate. ASU 2020-04 is effective for fiscal years beginning after December 31, 2022. While the Company is currently evaluating the effect that the implementation of this guidance will have on its consolidated financial statements, no significant impact is anticipated. In October 2020, the FASB issued ASU 2020-10, Codification Improvements, which clarifies various topics in the Accounting Standards Codification, including the addition of existing disclosure requirements to the relevant disclosure sections. The guidance is effective for fiscal years beginning after December 15, 2020 with early adoption permitted. The adoption of ASU 2020-10 did not have a material impact on the Company’s consolidated financial statements. Land Development During the first quarter of 2006, the Company received final subdivision approval on an approximate 336 acre parcel in the region "mauka" (toward the mountains) from the main highway serving the area. This project, called Kaanapali Coffee Farms, originally consisted of 51 fifty-one Project costs associated with the development and construction of real estate projects are capitalized and classified as Property, net. Such capitalized costs are not in excess of the projects' estimated fair value as reviewed periodically or as considered necessary. In addition, interest, insurance and property tax are capitalized to qualifying assets during the period that such assets are undergoing activities necessary to prepare them for their intended use. For development projects, capitalized costs are allocated using the direct method for expenditures that are specifically associated with the lot being sold and the relative-sales-value method for expenditures that benefit the entire project. Recognition of Profit From Real Property Sales In accordance with the core principle of ASC 606, revenue from real property sales is recognized at the time of closing when control of the property transfers to the customer. After closing of the sale transaction, the Company has no remaining performance obligation. When the sale does not meet the requirements for full profit recognition, all or a portion of the profit is deferred until such requirements are met. Other revenues in the scope of ASC 606 are recognized when control of goods or services transfers to the customers, in the amount that the Company expects to receive for the transfer of goods or provision of services. Property Property is stated at cost. Depreciation is based on the straight-line method over the estimated economic lives of 15 40 3 18 Provisions for impairment losses related to long-lived assets, if any, are recognized when expected future cash flows are less than the carrying values of the assets. If indicators of impairment are present, the Company evaluates the carrying value of the related long-lived assets in relationship to the future undiscounted cash flows of the underlying operations or anticipated sales proceeds. The Company adjusts the net book value of property to fair value if the sum of the expected undiscounted future cash flow or sales proceeds is less than book value. Assets held for sale are recorded at the lower of the carrying value of the asset or fair value less costs to sell. 2021 2020 Property, net: Land $ 61,267 $ 61,678 Buildings 1,229 1,229 Machinery and equipment 5,564 5,453 68,060 68,360 Accumulated depreciation (5,969 (5,700) Property, net $ 62,091 $ 62,660 Inventory of land held for sale of approximately $3,045 $736 The Company's significant property holdings are on the island of Maui consisting of approximately 3,900 1,500 In September 2014, Kaanapali Land Management Corp. (“KLMC”), pursuant to a property and option purchase agreement with an unrelated third party, closed on the sale of an approximate 14.9 $3,300 $583 18.5 $4,078 $525 Other Liabilities Other liabilities are comprised of estimated liabilities for losses, commitments and contingencies related to various divested assets or operations. These estimated liabilities include the estimated effects of certain asbestos related claims, obligations related to former officers and employees such as pension, post-retirement benefits and workmen's compensation, investigation and potential remedial efforts in connection with environmental matters in the state of Hawaii. Management's estimates are based, as applicable, on taking into consideration claim amounts filed by third parties, life expectancy of beneficiaries, advice of consultants, negotiations with claimants, historical settlement experience, the number of new cases expected to be filed and the likelihood of liability in specific situations. Management periodically reviews the adequacy of each of its loss contingency amounts and adjusts such as it determines the appropriate loss contingency amount to reflect current information. Reference is made to Note 7, Commitments and Contingencies. Use of Estimates The preparation of financial statements in conformity with accounting principles generally accepted in the United States requires management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. Actual results could differ from those estimates. Short-Term Investments It is the Company's policy to classify all of its investments in U.S. Government obligations with original maturities greater than three months as held-to maturity, as the Company has the ability and intent to hold these investments until their maturity, and are recorded at amortized cost, which approximates fair value. Income Taxes Income taxes are accounted for under the asset and liability approach which requires recognition of deferred tax assets and liabilities for the differences between the financial reporting and tax basis of assets and liabilities. A valuation allowance reduces deferred tax assets when it is more likely than not some portion or all of the deferred tax assets will not be realized. As of December 31, 2021 and 2020, there were no uncertain tax positions that had a material impact on the Company's consolidated financial statements.

Mortgage Note Payable

Mortgage Note Payable	12 Months Ended
	Dec. 31, 2021
Debt Disclosure [Abstract]
Mortgage Note Payable	(2) Mortgage Note Payable Certain subsidiaries of Kaanapali Land are jointly indebted to Kaanapali Land pursuant to a certain Secured Promissory Note in the principal amount of $70,000 November 14, 2002 September 30, 2029 $90,565 $90,367 0.39%

Rental Arrangements

Rental Arrangements	12 Months Ended
	Dec. 31, 2021
Leases [Abstract]
Rental Arrangements	(3) Rental Arrangements During 2021, 2020 and 2019, the Company leased various office spaces with average annual rental of approximately $19 $18 $17

Employee Benefit Plans

Employee Benefit Plans	12 Months Ended
	Dec. 31, 2021
Retirement Benefits [Abstract]
Employee Benefit Plans	(4) Employee Benefit Plans As of December 31, 2021, the Company participates in a defined benefit pension plan that covers substantially all its eligible employees. The Pension Plan is sponsored and maintained by Kaanapali Land in conjunction with other plans providing benefits to employees of Kaanapali Land and its affiliates. The Pension Plan for Bargaining Unit Employees of Amfac Plantations (the "Pension Plan") provides benefits based primarily on length of service and career-average compensation levels. Kaanapali Land's policy is to fund pension costs in accordance with the minimum funding requirements under provisions of the Employee Retirement Income Security Act ("ERISA"). Under such guidelines, amounts funded may be more or less than the pension expense or credit recognized for financial reporting purposes. FASB ASC Topic 820, Fair Value Measurements and Disclosures Level 1 Inputs to the valuation methodology are unadjusted quoted prices for identical assets or liabilities in active markets. Level 2 Inputs to the valuation methodology include: quoted prices for similar assets or liabilities in active markets; quoted prices for identical or similar instruments in inactive markets; or other inputs that are observable for the asset or liability. Level 3 Inputs to the valuation methodology are unobservable and significant to the fair value measurement. The asset or liability's fair value measurement level within the fair value hierarchy is based on the lowest level of any input that is significant to the fair value measurement. Valuation techniques used need to maximize the use of observable inputs and minimize unobservable inputs. Following is a description of the valuation methodologies used for Pension Plan assets measured at fair value. -- Common and Preferred Stock -- Mutual Funds Holding Corporate Notes, Bonds and Debentures and Collective Investment Funds -- Investment Contract with Insurance Company -- Private Equity Investments and Investment in Partnerships The following table sets forth by level, within the fair value hierarchy, the Pension Plan's assets at fair value as of December 31, 2021: Level 1 Level 2 Level 3 Total Mutual funds $ 3,000 $ 0 $ 0 $ 3,000 Collective investment funds 0 15,700 0 15,700 Cash and cash equivalents 700 0 0 700 3,700 15,700 0 19,400 Investments in private equity funds 1,000 Investments in partnerships 0 Total Pension Plan assets at fair value $ $ $ 0 $ 20,400 The following table sets forth by level, within the fair value hierarchy, the Pension Plan's assets at fair value as of December 31, 2020: Level 1 Level 2 Level 3 Total Mutual funds $ 2,500 $ 0 $ 0 $ 2,500 Collective investment funds 0 14,000 0 14,000 Cash and cash equivalents 100 0 0 100 2,600 14,000 0 16,600 Investments in private equity funds 1,300 Investments in partnerships 0 Total Pension Plan assets at fair value $ $ $ 0 $ 17,900 Changes in Level 3 Investments and Investments Measured at Net Asset Value The following table sets forth a summary of changes in fair value of the plan's level 3 assets and assets measured at net asset value “NAV” for the year ended December 31, 2021: Level 3 Measured at NAV Investment in Insurance Companies Investment in Partnerships Investment in Private Equity Funds Total Balance, beginning of year $ 0 $ 0 $ 1,300 $ 1,300 Net earned interest and realized/unrealized gains (losses) 0 0 200 200 Purchases, sales, issuance and settlements 0 0 (500) (500) Balance, end of year $ 0 $ 0 $ 1,000 $ 1,000 The following table sets forth a summary of changes in fair value of the plan's level 3 assets and assets measured at net asset value “NAV” for the year ended December 31, 2020: Level 3 Measured at NAV Investment in Insurance Companies Investment in Partnerships Investment in Private Equity Funds Total Balance, beginning of year $ 0 $ 100 $ 1,400 $ 1,500 Net earned interest and realized/unrealized gains (losses) 0 (100) (100) (200) Balance, end of year $ 0 $ 0 $ 1,300 $ 1,300 The following tables summarize the components of the change in pension benefit obligations, plan assets and funded status of the Company's defined benefit pension plan at December 31, 2021, 2020 and 2019. 2021 2020 2019 Benefit obligation at beginning of year $ 393 $ 614 $ 816 Service cost 283 363 548 Interest cost 6 13 24 Actuarial gain (232) (279) (467) Benefits paid (13) (318) (31) Settlement -- -- (276) Accumulated and projected benefit obligation at end of year 437 393 614 Fair value of plan assets at beginning of year 17,924 16,123 14,787 Actual return on plan assets 2,472 2,119 2,110 Benefits paid (13) (318) (31) Settlement -- -- (743) Fair value of plan assets at end of year 20,383 17,924 16,123 Funded status 19,946 17,531 15,509 Unrecognized net actuarial (gain) loss ( 3,106 ( 1,279 321 Unrecognized prior service cost -- -- 1 Prepaid pension cost $ 16,840 $ 16,252 $ 15,831 At December 31, 2021, approximately 3 5 92 The pension plan has investment policies. These generally are written guidelines or general instructions for making investment management decisions. The investment policy of the plan is to invest the plan’s assets in accordance with sound investment practices that emphasize long-term investment fundamentals, taking into account the time horizon available for investment, the nature of the plan’s cash flow requirements, the plan’s role within the Company’s long-term financial plan and other factors that affect the plan’s risk tolerance. The components of the net periodic pension credit for the years ended December 31, 2021, 2020 and 2019 (which are reflected as selling, general and administrative in the consolidated statements of operations) are as follows: 2021 2020 2019 Service costs $ 283 $ 363 $ 548 Interest cost 6 13 24 Expected return on plan assets (916) (866) (866) Recognized net actuarial loss 39 68 196 Amortization of prior service cost -- 1 4 Loss on settlement -- -- 400 Net periodic pension cost (credit) $ (588) $ (421) $ 306 The principal weighted average assumptions used to determine the net periodic pension benefit (credit) and the actuarial value of the accumulated benefit obligation were as follows: 2021 2020 2019 As of January 1 Discount rate 1.95% 2.93% 3.96% Rates of compensation increase 3% 3% 3% Expected long-term rate of return on assets 6% 6% 6% As of December 31 Discount rate – net periodic pension credit 1.95% 2.93% 3.96% Discount rate – accumulated benefit obligation 0.66% 1.95% 2.93% Rates of compensation increase 3% 3% 3% Expected long-term rate of return on assets 6% 6% 6% The above long-term rates of return were selected based on historical asset returns and expectations of future returns. The Company amortizes experience gains and losses as well as effects of changes in actuarial assumptions and plan provisions over a period no longer than the average expected mortality of participants in the pension plan. The measurement date is December 31, the last day of the corporate fiscal year. A comparison of the market value of the Pension Plan's net assets with the present value of the benefit obligations indicates the Company's ability at a point in time to pay future benefits. The fair value of the Pension Plan's assets available for benefits will fluctuate. There was no contribution required in 2021 to the pension plan. Furthermore, due to ERISA full funding limits, no contribution, whether required or discretionary, could be made and deducted on the corporation's tax return for the current fiscal year. The Company's target asset allocations reflect the Company's investment strategy of maximizing the rate of return on plan assets and the resulting funded status, within an appropriate level of risk. Plan assets are reviewed and, if necessary, rebalanced in accordance with target allocation levels once every three months. The estimated future benefit payments under the Company's pension plan are as follows (in thousands): Amounts 2022 $ 478 Effect of a 1% change in the discount rate and salary increase rate for the fiscal years ended December 31, 2021 and 2020: 2021 Discount Rate 2021 Salary Increase 2020 Discount Rate 2020 Salary Increase Effect of a 1% increase on: Net periodic pension cost $ 0 $ 1 $ 1 $ 1 Pension benefit obligation at year end $ (4) $ 0 $ (16 $ 7 Effect of a 1% decrease on: Net periodic pension cost $ 0 $ (1) $ (1 $ (1 Pension benefit obligation at year end $ 4 $ 0 $ 18 $ (6 Effect of a 1% change in the rate of return on assets for the fiscal year ended December 31, 2021: 1% Increase 1% Decrease Net periodic pension cost $ (153 $ 153 The Company recognizes the over funded or under funded status of its employee benefit plans as an asset or liability in its consolidated statements of financial position and recognizes changes in its funded status in the year in which the changes occur through comprehensive income. Included in accumulated other comprehensive income at December 31, 2021 and 2020 are the following amounts that have not yet been recognized in net periodic pension cost: unrecognized actuarial gain of $3,106 $2,298 $1,279 $946 The Company maintains a nonqualified deferred compensation arrangement (the "Rabbi Trust") which provides certain former directors of Amfac and their spouses with pension benefits. The Rabbi Trust invests in marketable securities and cash equivalents (Level 1). The deferred compensation liability of $356 $369 $3 $13

Income Taxes

Income Taxes	12 Months Ended
	Dec. 31, 2021
Income Tax Disclosure [Abstract]
Income Taxes	(5) Income Taxes Income tax expense/(benefit) attributable to income from continuing operations for the years ended December 31, 2021, 2020 and 2019 consist of: Current Deferred Total Year ended December 31, 2021: U.S. federal $ -- $ 282 $ 282 State -- 68 68 $ -- $ 350 $ 350 Year ended December 31, 2020: U.S. federal $ -- $ (775) $ (775) State -- (184) (184) $ -- $ (959) $ (959) Year ended December 31, 2019: U.S. federal $ -- $ (957) $ (957) State -- (225) (225) $ -- $ (1,182) $ (1,182) The Tax Cuts and Jobs Act (the Act) repealed the corporate alternative minimum tax and provided that prior alternative minimum tax credits (AMT credits) would be refundable. Any remaining AMT credits became refundable incrementally from 2018 through 2021. The CARES Act accelerated the refund schedule, enabling the Company to claim the refund in full. In February and July 2021, the Company received $1,483 $1,486 The Act is a comprehensive tax reform bill containing a number of other provisions that either currently or in the future could impact the Company, particularly the effect of certain limitations effective for the tax year 2018 and forward (prior losses remain subject to the prior 20 year carryover period) on the use of federal net operating loss carryforwards (NOLs) which will generally be limited to being used to offset 80% of future annual taxable income. Income tax expense/(benefit) attributable to income from continuing operations differs from the amounts computed by applying the U.S. federal income tax rate of 26 2021 2020 2019 Provision at statutory rate $ 155 $ (1,222) $ (1,250) Federal NOLs utilized -- -- -- Federal NOLs generated -- -- -- State NOLs utilized -- -- -- State NOLs generated 150 258 193 Reversal of valuation allowance on AMT credits -- -- (183) Other 45 5 58 Total $ 350 $ (959) $ (1,182) Deferred income taxes reflect the net tax effects of temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for income tax purposes. The deferred tax effects of temporary differences at December 31, 2021, 2020 and 2019 are as follows: December 31, 2021 2020 2019 Deferred tax assets: Loss contingencies related primarily to losses on divestitures, less recognized insurance recovery $ 2,264 $ 3,207 $ 3,197 Loss carryforwards 14,015 13,118 11,780 Other, net 255 269 290 Total deferred tax assets 16,534 16,594 15,267 Less – valuation allowance 10,379 10,229 9,971 Total deferred tax assets 6,155 6,365 5,296 Deferred tax liabilities: Property, plant and equipment, principally due to purchase accounting adjustments, net of impairment charges 10,322 10,334 10,333 Prepaid pension costs 5,760 5,132 4,606 Total deferred tax liabilities 16,082 15,466 14,939 Net deferred tax liability $ 9,927 $ 9,101 $ 9,643 As of December 31, 2021, the Company has a deferred tax asset related to federal net operating losses (NOLs) of $10,590 $6,953 $3,426 The statutes of limitations with respect to the Company's taxes for 2018 and more recent years remain open to examinations by tax authorities, subject to possible utilization of loss carryforwards from earlier years. Notwithstanding the foregoing, all NOLs generated and not yet utilized are subject to adjustment by the IRS. The Company believes adequate provisions for income tax have been recorded for all years, although there can be no assurance that such provisions will be adequate. To the extent that there is a shortfall, any such shortfall for which the Company may be liable could be material.

Transactions with Affiliates

Transactions with Affiliates	12 Months Ended
	Dec. 31, 2021
Related Party Transactions [Abstract]
Transactions with Affiliates	(6) Transactions with Affiliates An affiliated insurance agency, JMB Insurance Agency, Inc., which has some degree of common ownership with the Company, earns insurance brokerage commissions in connection with providing the placement of insurance coverage for certain of the properties and operations of the Company. Such commissions are believed by management to be comparable to those that would be paid to such affiliate insurance agency in similar dealings with unaffiliated third parties. The total of such commissions for the years ended December 31, 2021, 2020 and 2019 was approximately $49 $35 $20 The Company reimburses affiliates of Pacific Trail Holdings, LLC, the owner of approximately 81.8% of the Company’s Common Shares, for general overhead expense and for direct expenses incurred on its behalf, including salaries and salary-related expenses incurred in connection with the management of the Company's operations. Generally, the entity that employs the person providing the services receives the reimbursement. Substantially all of such reimbursable amounts were incurred by JMB Realty Corporation or its affiliates, 900FMS, LLC, 900Work, LLC, and JMB Financial Advisors, LLC, all of which have some degree of common ownership with the Company. The total costs recorded in cost of sales and selling, general and administrative expenses in the consolidated statement of operations for the years ended 2021, 2020 and 2019 were $1,464 $1,466 $1,276 $0 The Company derives revenue from farming and common area maintenance services and for providing non-potable water to the Kaanapali Coffee Farms Lot Owners Association (“LOA”). The LOA is the association of the owners of the Kaanapali Coffee Farms. The revenues were $1,315 $1,305 $1,297

Commitments and Contingencies

Commitments and Contingencies	12 Months Ended
	Dec. 31, 2021
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	(7) Commitments and Contingencies At December 31, 2021, the Company has no material contractual obligations related to the land improvements in conjunction with Phase I of the Kaanapali Coffee Farms project. Material legal proceedings of the Company are described below. Unless otherwise noted, the parties adverse to the Company in the legal proceedings described below have not made a claim for damages in a liquidated amount and/or the Company believes that it would be speculative to attempt to determine the Company's exposure relative thereto, and as a consequence believes that an estimate of the range of potential loss cannot be made. Two former subsidiaries, Oahu Sugar Company, LLC (“Oahu Sugar”) and D/C Distribution Corporation (“D/C”), filed subsequent petitions for liquidation under Chapter 7 of the Bankruptcy Code in April 2005 and July 2007, respectively, as described below. On December 17, 2019, the Oahu Sugar bankruptcy case was closed. As a consequence of the Chapter 7 filing, D/C is not under control of the Company. As a result of an administrative order issued to Oahu Sugar by the Hawaii Department of Health (“HDOH”), Order No. CH 98-001, dated January 27, 1998, Oahu Sugar engaged in environmental site assessment of lands it leased from the U.S. Navy and located on the Waipio Peninsula. Oahu Sugar submitted a Remedial Investigation Report to the HDOH. The HDOH provided comments that indicated that additional testing may be required. Oahu Sugar responded to these comments with additional information. On January 9, 2004, the Environmental Protection Agency (“EPA”) issued a request to Oahu Sugar seeking information related to the actual or threatened release of hazardous substances, pollutants and contaminants at the Waipio Peninsula portion of the Pearl Harbor Naval Complex National Priorities List Superfund Site. The request sought, among other things, information relating to the ability of Oahu Sugar to pay for or perform a cleanup of the land formerly occupied by Oahu Sugar. Oahu Sugar responded to the information requests and notified both the Navy and the EPA that while it had some modest remaining cash that it could contribute to further investigation and remediation efforts in connection with an overall settlement of the outstanding claims, Oahu Sugar was substantially without assets and would be unable to make a significant contribution to such an effort. Attempts at negotiating such a settlement were fruitless and Oahu Sugar received an order from EPA in March 2005 that purported to require certain testing and remediation of the site. As Oahu Sugar was substantially without assets, the pursuit of any action, informational, enforcement, or otherwise, would have had a material adverse effect on the financial condition of Oahu Sugar. Therefore, as a result of the pursuit of further action by the HDOH and EPA as described above and the immediate material adverse effect that the actions had on the financial condition of Oahu Sugar, Oahu Sugar filed with the United States Bankruptcy Court, Northern District of Illinois, Eastern Division in April 2005, its voluntary petition for liquidation under Chapter 7 of Title 11, United States Bankruptcy Code. Such filing was not expected to have a material adverse effect on the Company as Oahu Sugar was substantially without assets at the time of the filing. While it was believed that other affiliates had no responsibility for the debts of Oahu Sugar, EPA made a claim against Kaanapali Land as further described below, and therefore, no assurance could be given that the Company would not incur significant costs in conjunction with such claim. The deadline for filing proofs of claim with the bankruptcy court passed in April 2006. Prior to the deadline, Kaanapali Land, on behalf of itself and certain subsidiaries, filed claims that aggregated approximately $224,000 $2,760 $11,450 With regard to the Waipio Peninsula alleged environmental issues, EPA sent three requests for information to Kaanapali Land regarding, among other things, Kaanapali Land's organization and relationship, if any, to entities that may have, historically, operated on the site and with respect to operations conducted on the Waipio site. Kaanapali Land responded to these requests for information. By letter dated February 7, 2007, pursuant to an allegation that Kaanapali Land is a successor to Oahu Sugar Company, Limited, a company that operated at the site prior to 1961 ("Old Oahu"), EPA advised Kaanapali that it believed it was authorized by the Comprehensive Environmental Response Compensation and Liability Act (“CERCLA”) to amend the existing Unilateral Administrative Order against Oahu Sugar Company, LLC, for the cleanup of the site to include Kaanapali Land as an additional respondent. The purported basis for EPA's position was that Kaanapali Land, by virtue of certain corporate actions, was jointly and severally responsible for the performance of the response actions, including, without limitation, clean-up at the site. No such amendment was made. Instead, after a series of discussions between Kaanapali and the EPA, on or about September 30, 2009, the EPA issued a Unilateral Administrative Order to Kaanapali Land for the performance of work in support of a removal action at the former Oahu Sugar pesticide mixing site located on Waipio peninsula. The work consisted of the performance of soil and groundwater sampling and analysis, a topographic survey, and the preparation of an engineering evaluation and cost analysis of potential removal actions to abate an alleged "imminent and substantial endangerment" to public health, welfare or the environment. The order appeared to be further predicated primarily on the alleged connection of Kaanapali Land to Old Oahu and its activities on the site. Kaanapali Land engaged in performing work, including the conduct of sampling at the site, required by the order while reserving its rights to contest liability regarding the site. With regard to liability for the site, Kaanapali Land believed that its liability, if any, should relate solely to a portion of the period of operation of Old Oahu at the site, although in some circumstances CERCLA apparently permits imposition of joint and several liability, which can exceed a responsible party's equitable share. Kaanapali Land believed that the U.S. Navy bore substantial liability for the site by virtue of its ownership of the site throughout the entire relevant period, both as landlord under its various leases with Oahu Sugar and Old Oahu and by operating and intensively utilizing the site directly during a period when no lease was in force. The Company believed that the cost of the work as set forth in the order would not be material to the Company as a whole; however, in the event that the EPA were to issue an order requiring remediation of the site, there could be no assurances that the cost of said remediation would not ultimately have a material adverse effect on the Company. In addition, if there were litigation regarding the site, there could be no assurance that the cost of such litigation would not be material or that such litigation would result in a judgment in favor of the Company. Kaanapali and the EPA exchanged comments relative to further studies to be performed at the site, including a possible ecological risk assessment. Over the years, work occurred at the Site and then the parties engaged in discussions to resolve the matter, pursuant to the Consent Decree set forth below. On February 11, 2015, the Company filed a complaint for declaratory judgment, bad faith and damages against Fireman’s Fund Insurance Company (“Fireman’s Fund”) in the Circuit Court of the First Circuit, State of Hawaii, Civil No. 15-1-0239-02, in connection with costs and expenses it might incur in connection with the Waipio site. In the five-count complaint, the Company sought, among other things, a declaratory judgment of its rights under various Fireman’s Fund policies and an order that Fireman’s Fund defend and indemnify Kaanapali Land from all past, present and future costs and expenses in connection with the site, including costs of investigation and defense incurred by Kaanapali and the professionals it has engaged. In addition, Kaanapali sought general, special, and punitive damages, prejudgment and post judgment interest, and such other legal or equitable relief as the court deems just and proper. Fireman’s Fund has filed a responsive pleading. This litigation is in the process of being settled and will likely be dismissed with prejudice pursuant to an agreement between Fireman’s Fund and the Company dated November 24, 2021 (“Insurance Settlement”). Under the Insurance Settlement Fireman’s Fund paid $6,800 On April 16, 2021, the U.S. Department of Justice and the U.S. Environmental Protection Agency, on behalf of various federal agencies of the United States of America, executed a Consent Decree with Kaanapali Land, LLC, a Delaware limited liability company (the “Company”) that, when entered by the U.S. District Court sitting in the District of Hawaii, United States of America v. Kaanapali Land, and Oahu Sugar Company, LLC Case No. 1:21-CV-00190, would resolve the U.S. federal government’s pending environmental claims against the Company with respect to contamination at the former mixing site on Waipio Peninsula on Oahu in Hawaii that had been leased by Oahu Sugar Company LLC, a former subsidiary of the Company. In return for payments by the Company totaling $7,500 Kaanapali Land, as successor by merger to other entities, and D/C have been named as defendants in personal injury actions allegedly based on exposure to asbestos. While there are relatively few cases that name Kaanapali Land, there were a substantial number of cases that were pending against D/C on the U.S. mainland (primarily in California). Cases against Kaanapali Land (hereafter, “Kaanapali Land asbestos cases”) are allegedly based on its prior business operations in Hawaii and cases against D/C are allegedly based on sale of asbestos-containing products by D/C's prior distribution business operations primarily in California. Each entity defending these cases believes that it has meritorious defenses against these actions, but can give no assurances as to the ultimate outcome of these cases. The defense of these cases had a material adverse effect on the financial condition of D/C as it was forced to file a voluntary petition for liquidation as discussed below. Kaanapali Land does not believe that it has liability, directly or indirectly, for D/C's obligations in those cases. Kaanapali Land does not presently believe that the cases in which it is named will result in any material liability to Kaanapali Land; however, there can be no assurance in that regard. On February 12, 2014, counsel for Fireman’s Fund, the carrier that has been paying defense costs and settlements for the Kaanapali Land asbestos cases, stated that it would no longer pay settlements or judgments in the Kaanapali Land asbestos cases due to then pending D/C and Oahu Sugar bankruptcies. In its communications with Kaanapali Land, Fireman’s fund expressed its view that the automatic stay in effect in the D/C bankruptcy case barred Fireman’s Fund from making any payments to resolve the Kaanapali Land asbestos claims because D/C Distribution was also alleging a right to coverage under those policies for asbestos claims against it. However, in the interim, Fireman’s Fund advised that it intended to continue to pay defense costs for those cases, subject to whatever reservations of rights that might be in effect and subject further to the policy terms. Fireman’s Fund also indicated that to the extent that Kaanapali Land cooperated with Fireman’s Fund in addressing settlement of the Kaanapali Land asbestos cases through coordination with its adjusters, it was Fireman’s Fund’s intention to reimburse any such payments by Kaanapali Land, subject, among other things, to the terms of any lift-stay order, the limits and other terms and conditions of the policies, and prior approval of the settlements. Kaanapali Land and Fireman’s Fund entered into a settlement agreement on November 24, 2021 whereby Fireman’s Fund will pay $2,441 On February 15, 2005, D/C was served with a lawsuit entitled American & Foreign Insurance Company v. D/C Distribution and Amfac Corporation, Case No. 04433669 filed in the Superior Court of the State of California for the County of San Francisco, Central Justice Center. No other purported party was served. In the eight-count complaint for declaratory relief, reimbursement and recoupment of unspecified amounts, costs and for such other relief as the court might grant, plaintiff alleged that it is an insurance company to whom D/C tendered for defense and indemnity various personal injury lawsuits allegedly based on exposure to asbestos containing products. Plaintiff alleged that because none of the parties have been able to produce a copy of the policy or policies in question, a judicial determination of the material terms of the missing policy or policies is needed. Plaintiff sought, among other things, a declaration: of the material terms, rights, and obligations of the parties under the terms of the policy or policies; that the policies were exhausted; that plaintiff was not obligated to reimburse D/C for its attorneys' fees in that the amounts of attorneys' fees incurred by D/C have been incurred unreasonably; that plaintiff was entitled to recoupment and reimbursement of some or all of the amounts it had paid for defense and/or indemnity; and that D/C breached its obligation of cooperation with plaintiff. D/C filed an answer and an amended cross-claim. D/C believed that it had meritorious defenses and positions, and intended to vigorously defend. In addition, D/C believed that it was entitled to amounts from plaintiffs for reimbursement and recoupment of amounts expended by D/C on the lawsuits previously tendered. In order to fund such action and its other ongoing obligations while such lawsuit continued, D/C entered into a Loan Agreement and Security Agreement with Kaanapali Land, in August 2006, whereby Kaanapali Land provided certain advances against a promissory note delivered by D/C in return for a security interest in any D/C insurance policy at issue in this lawsuit. In June 2007, the parties settled this lawsuit with payment by plaintiffs in the amount of $1,618 Because D/C was substantially without assets and was unable to obtain additional sources of capital to satisfy its liabilities, D/C filed with the United States Bankruptcy Court, Northern District of Illinois, its voluntary petition for liquidation under Chapter 7 of Title 11, United States Bankruptcy Code on July 17, 2007, Case No. 07-12776. Such filing is not expected to have a material adverse effect on the Company as D/C was substantially without assets at the time of the filing. Kaanapali Land filed claims in the D/C bankruptcy that aggregated approximately $26,800 On January 21, 2020, certain asbestos claimants filed a Stay Relief Motion in the Bankruptcy Court for the Northern District of Illinois, Eastern Division, Case No. 07-12776 (“motion to lift stay”) in connection with the D/C proceeding. The motion sought the entry of an order, among other things, modifying the automatic stay in the D/C bankruptcy to permit those claimants to prosecute various lawsuits in state courts against D/C Distribution, LLC, and to recover on any judgment or settlement solely from any available insurance coverage. Various oppositions to the motion to lift stay were filed, and the matter was heard and taken under advisement in April 2020. On July 21, 2020, the bankruptcy court issued an order granting the motion to lift stay to permit the movants to pursue their claims and to recover any judgment or settlement from and to the extent of any available insurance coverage of D/C Distribution, LLC, only. The bankruptcy trustee for D/C is now in the process of closing the bankruptcy case. All of the asbestos-related proofs claims filed by the San Francisco personal injury firm in the bankruptcy case have been withdrawn in connection with closing. It is anticipated that the Kaanapali Land will receive a small distribution on account of its claims in the D/C case. Although D/C will no longer have any assets after the trustee’s final distribution and closing of the case, there is no guaranty that personal injury claimants will not assert asbestos-related claims against D/C in the future. The Company has received notice from Hawaii’s Department of Land and Natural Resources (“DLNR”) that DLNR on a periodic basis would inspect all significant dams and reservoirs in Hawaii, including those maintained by the Company on Maui in connection with its agricultural operations. A series of such inspections have taken place over the period from 2006 through the most recent inspections that occurred in July 2021. To date, the DLNR cited certain deficiencies concerning two of the Company’s reservoirs relating to dam and reservoir safety standards established by the State of Hawaii. These deficiencies include, among other things, vegetative overgrowth and roots and stumps left in place, erosion of slopes, uncertainty of inflow control, spillway capacity, and freeboard and uncertainty of structural stability under certain loading and seismic conditions. The Company has taken certain corrective actions, including lowering the reservoir operating level; as well as updating important plans to address emergency events and basic operations and maintenance. In 2018, the Company contracted with an engineering firm to develop plans to address certain DLNR cited deficiencies on one of the Company’s reservoirs. In 2012, the State of Hawaii issued new Hawaii Administrative Rules for Dams and Reservoirs which require dam owners to obtain from DLNR Certificates of Impoundment (“permits”) to operate and maintain dams or reservoirs. Obtaining such permits requires owners to completely resolve all cited deficiencies. Therefore, the process may involve further analysis of dam and reservoir safety requirements, which will involve continuing engagement with specialized engineering consultants, and ultimately could result in significant and costly improvements which may be material to the Company. The DLNR categorizes the reservoirs as "high hazard" under State of Hawaii Administrative Rules and State Statutes concerning dam and reservoir safety. This classification, which bears upon government oversight and reporting requirements, may increase the cost of managing and maintaining these reservoirs in a material manner. The Company does not believe that this classification is warranted for either of these reservoirs and has initiated a dialogue with DLNR in that regard. In April 2008, the Company received further correspondence from DLNR that included the assessment by their consultants of the potential losses that result from the failure of these reservoirs. In April 2009, the Company filed a written response to DLNR to correct certain factual errors in its report and to request further analysis on whether such "high hazard" classifications are warranted. It is unlikely that the “high hazard” designation will be changed. Other than as described above, the Company is not involved in any material pending legal proceedings, other than ordinary routine litigation incidental to its business. The Company and/or certain of its affiliates have been named as defendants in several pending lawsuits. While it is impossible to predict the outcome of such routine litigation that is now pending (or threatened) and for which the potential liability is not covered by insurance, the Company is of the opinion that the ultimate liability from any of this litigation will not materially adversely affect the Company's consolidated results of operations or its financial condition. The Company often seeks insurance recoveries under its policies for costs incurred or expected to be incurred for losses or claims under which the policies might apply. During second quarter 2019, the Company received $442 in insurance proceeds related to an insured event that occurred during the 2018 crop year. This amount has been reflected in sales and rental revenues in the Company’s consolidated financial statements. Kaanapali Land Management Corp. (KLMC) is a party to an agreement with the State of Hawaii for the development of the Lahaina Bypass Highway. An approximate 2.4 mile portion of this two lane state highway has been completed. Construction to extend the southern terminus was completed mid-2018. The northern portion of the Bypass Highway, which extends to KLMC’s lands, is in the early stage of planning. Under certain circumstances, which have not yet occurred, KLMC remains committed for approximately $1,100 $6,700 These potential commitments have not been reflected in the accompanying consolidated financial statements. While the completion of the Bypass Highway would add value to KLMC’s lands north of the town of Lahaina, there can be no assurance that it will be completed or when any future phases will be undertaken. In March 2020, the World Health Organization declared the outbreak of COVID-19 as a pandemic, and the U.S. including the Hawaiian economy began to experience pronounced disruptions. Quarantine, travel restrictions and other governmental restrictions to reduce the spread of COVID-19 caused an adverse impact on economic activity, including disruptions to global supply chains, business closures, stricter work rules, increased unemployment, financial market instability, and reduced tourism to Maui. Certain travel restrictions to the State of Hawaii and the County of Maui were eased during 2021 resulting in a significant increase in visitor arrivals to Maui. The effects of an improving economy could be negatively impacted by surges in COVID-19 and new variants, the administration and effectiveness of vaccines and government responses to future developments as well as supply chain disruptions, labor shortages and rising inflation. A resurgence of COVID-19 or the emergence of new, significant variants, could negatively impact the Maui real estate market, which could negatively impact the Company’s results and financial position.

Business Segment Information

Business Segment Information	12 Months Ended
	Dec. 31, 2021
Segment Reporting [Abstract]
Business Segment Information	(8) Business Segment Information As described in Note 1, the Company operates in two business segments. Total revenues, operating profit, identifiable assets, capital expenditures, and depreciation and amortization by business segment are presented in the tables below. Total revenues by business segment include primarily (i) sales, all of which are to unaffiliated customers and (ii) interest income that is earned from outside sources on assets which are included in the individual industry segment's identifiable assets. Operating income (loss) is comprised of total revenue less cost of sales and operating expenses. In computing operating income (loss), none of the following items have been added or deducted: general corporate revenues and expenses, interest expense and income taxes. Identifiable assets by business segment are those assets that are used in the Company's operations in each industry. Corporate assets consist principally of cash and cash equivalents, prepaid pension costs and receivables related to previously divested businesses. 2021 2020 2019 Revenues: Property $ 1,304 $ 877 $ 491 Agriculture 3,340 2,440 3,472 Corporate 109 36 221 $ 4,753 $ 3,353 $ 4,184 Operating income (loss): Property $ (1,357) $ (1,537) $ (2,377) Agriculture (24) (936) 356 (1,381) (2,473) (2,021) Corporate 1,425 (2,985) (3,031) Operating income (loss) before income taxes $ 44 $ (5,458) $ (5,052) Identifiable Assets: Property $ 14,923 $ 16,816 $ 18,980 Agriculture 58,207 57,170 57,529 73,130 73,986 76,509 Corporate 34,066 28,162 29,649 $ 107,196 $ 102,148 $ 106,158 The Company’s property segment consists primarily of revenue received from land sales and lease and licensing agreements. The Company’s agricultural segment currently consists primarily of coffee operations and licensing agreements. The Company is exploring alternative agricultural operations, but there can be no assurance that replacement operations at any level will result. Agricultural identified assets include land classified as agricultural or conservation for State and County purposes. 2021 2020 2019 Capital Expenditures: Property $ 325 $ 497 $ 406 Agriculture 111 183 235 $ 436 $ 680 $ 641 Depreciation and Amortization: Property $ 72 $ 62 $ 57 Agriculture 197 156 144 $ 269 $ 218 $ 201

Calculation of Net Income Per S

Calculation of Net Income Per Share	12 Months Ended
	Dec. 31, 2021
Earnings Per Share [Abstract]
Calculation of Net Income Per Share	(9) Calculation of Net Income Per Share The following tables set forth the computation of net income (loss) per share - basic and diluted: Year Ended December 31, 2021 Year Ended December 31, 2020 Year Ended December 31, 2019 (Amounts in thousands except per share amounts) Numerator: Net income (loss) $ (306) $ (4,499) $ (3,870) Less: Net loss attributable to non-controlling interests (551) (759) (243) Net income (loss) attributable to stockholders $ 245 $ (3,740) $ (3,627) Denominator: Number of weighted average shares – basic and diluted 1,845 1,845 1,845 Net income (loss) per share, attributable to Kaanapali Land – basic and diluted $ 0.13 $ (2.03) $ (1.97) As of December 31, 2021, the Company had issued and outstanding 1,792,613 52,000

Subsequent Events

Subsequent Events	12 Months Ended
	Dec. 31, 2021
Subsequent Events [Abstract]
Subsequent Events	(10) Subsequent Events On January 15, 2022, Pacific Trail Holdings LLC, the manager of the Company adopted, a plan to freeze the benefit accruals under and close participation in the Pension Plan and terminate the Pension Plan on or about June 1, 2022. After distribution of Pension Plan benefits to participants, remaining surplus Pension Plan assets are expected to be distributed from the Pension Plan in accordance with the requirements of the Internal Revenue Code of 1986 (as amended) by certain regulatory deadlines. On February 11, 2022, the U.S. District Court in Hawaii entered into an order approving the Consent Decree relative to the Waipio Peninsula between the U.S. Department of Justice and the U.S. Environmental Protection Agency and the Company. Payment of the settlement amount was received by the government on March 3, 2022. Reference is made to Note 7 for discussion of this matter. On March 22, 2022, the Company closed on the sale of its final lot in the Kaanapali Coffee Farms subdivision. The purchase price was $ 5,000

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization and Basis of Accounting	Organization and Basis of Accounting Kaanapali Land, LLC ("Kaanapali Land"), a Delaware limited liability company is the reorganized entity resulting from the Joint Plan of Reorganization of Amfac Hawaii, LLC (now known as KLC Land Company, LLC ("KLC Land")), certain of its subsidiaries (together with KLC Land, the "KLC Debtors") and FHT Corporation ("FHTC" and, together with the KLC Debtors, the "Debtors") under Chapter 11 of the Bankruptcy Code, dated June 11, 2002 (as amended, the "Plan"). The Plan was filed jointly by all Debtors to consolidate each case for joint administration in the Bankruptcy Court in order to (a) permit the petitioners to present a joint reorganization plan that recognized, among other things, the common indebtedness of the debtors (i.e. the Certificate of Land Appreciation Notes ("COLAs") and Senior Indebtedness) and (b) facilitate the overall administration of the bankruptcy proceedings. As indicated in the Plan, Kaanapali Land has elected to be taxable as a corporation. The Plan was confirmed by the Bankruptcy Court by orders dated July 29, 2002 and October 30, 2002 (collectively, the "Order") and became effective November 13, 2002 (the "Plan Effective Date"). During August 2005, pursuant to a motion for entry of final decree, the bankruptcy cases were closed. There are 1,792,613 52,000 The accompanying consolidated financial statements include the accounts of Kaanapali Land and all of its subsidiaries and its predecessor (collectively, the "Company"), which include KLC Land and its wholly-owned subsidiaries. The Kaanapali Coffee Farms Lot Owners’ Association is consolidated into the accompanying consolidated financial statements. The interests of third party owners are reflected as non-controlling interests. All significant intercompany transactions and balances have been eliminated in consolidation. The Company's continuing operations are in two business segments - Agriculture and Property. The Agriculture segment remains engaged in farming, harvesting and milling operations relating to coffee orchards on behalf of the applicable land owners. The Company also cultivates, harvests and sells bananas and citrus fruits and engages in certain ranching operations. The Property segment primarily develops land for sale and negotiates bulk sales of undeveloped land. The Property and Agriculture segments operate exclusively in the State of Hawaii. For further information on the Company's business segments see Note 8.
Cash and Cash Equivalents	Cash and Cash Equivalents The Company considers as cash equivalents all investments with maturities of three months or less when purchased. Included in this balance as of December 31, 2021 is a money market fund for $9,400
Revenue Recognition	Revenue Recognition Revenue from real property sales is recognized at the time of closing when control of the property transfers to the customer. After closing of the sale transaction, the Company has no remaining performance obligation. Other revenues are recognized when control of goods or services transfers to the customers, in the amount that the Company expects to receive for the transfer of goods or provision of services. Revenue recognition standards require entities to recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled to receive in exchange. The revenue recognition standards have implications for all revenues, excluding those that are under the specific scope of other accounting standards. The Company’s revenues that were subject to revenue recognition standards for the years ended December 31, 2021, 2020 and 2019, were as follows (in thousands): Years ended December 31, 2021 2020 2019 Sales of real estate $ 1,040 $ -- $ -- Coffee and other crop sales 2,557 1,873 2,909 Total $ 3,597 $ 1,873 $ 2,909 The revenue recognition standards require the use of a five-step model to recognize revenue from customer contracts. The five-step model requires that the Company (i) identify the contract with the customer, (ii) identify the performance obligations in the contract, (iii) determine the transaction price, including variable consideration to the extent that it is probable that a significant future reversal will not occur, (iv) allocate the transaction price to the respective performance obligations in the contract, and (v) recognize revenue when (or as) the Company satisfies the performance obligation.
Lease Accounting	Lease Accounting In February 2016, the Financial Accounting Standards Board (“FASB”) updated Accounting Standards Codification (“ASC”) Topic 842 Leases (ASU 2016-02). Accounting Standards Update (“ASU”) 2016-02 requires lessees to record operating and financing leases as assets and liabilities on the balance sheet and lessors to expense costs that are not direct leasing costs. Subsequently, the FASB issued additional ASUs that further clarified the original ASU. The ASUs became effective for the Company on January 1, 2019. Upon adoption of the lease ASUs, the Company elected the practical expedients allowable under the ASUs, which included the optional transition method permitting January 1, 2019 to be its initial application date. The adoption of this guidance did not result in an adjustment to retained earnings. Additionally, the Company elected the package of practical expedients, which permits the Company not to reassess expired or existing contracts continuing a lease, the lease classification for expired or existing contracts, and initial direct costs for any existing leases. Further, the Company elected the practical expedient regarding short-term leases, which allows lessees to elect not to apply the balance sheet recognition requirements in ASC 842 to short-term leases. Finally, under ASC 842, lessors are required to continually assess collectability of lessee payments, and, if operating lease payments are not probable of collection, to only recognize into income the lesser of (i) straight-line rental income or (ii) lease payments received to date. The adoption of this guidance did not have a material impact on the Company’s consolidated financial statements. The Company’s lease arrangements, both as lessor and as lessee, are short-term leases. The Company leases land to tenants under operating leases, and the Company leases property, primarily office and storage space, from lessors under operating leases. During the years ended December 31, 2021, 2020 and 2019, the Company recognized $ 835 659 738 57 70 79
Recently Issued Accounting Pronouncements	Recently Issued Accounting Pronouncements In June 2016, the FASB updated ASC Topic 326 Financial Instruments – Credit Losses with ASU 2016-13 Measurement of Credit Losses on Financial Instruments (ASU 2016-13). ASU 2016-13 enhances the methodology of measuring expected credit losses to include the use of forward-looking information to better inform credit loss estimates. ASU 2016-13 is effective for annual periods beginning after December 15, 2019 for public companies except for smaller reporting companies, whose effective date will be periods beginning after December 15, 2022. While the Company is currently evaluating the effect that implementation of this update will have on its consolidated financial statements, no significant impact is anticipated. In August 2018, the FASB issued ASU 2018-14, Compensation - Retirement Benefits - Defined Benefit Plans - General (Subtopic 715-20), which modifies the disclosure requirements for employers that sponsor defined benefit pension plans and other postretirement plans. The guidance is effective for fiscal years beginning after December 15, 2020 with early adoption permitted. The adoption of ASU 2018-14 did not have a material impact on the Company’s consolidated financial statements. In December 2019, the FASB ASU 2019-12, Income Taxes (Topic 740) - Simplifying the Accounting for Income Taxes, as part of its initiative to reduce complexity in the accounting standards. The guidance is effective for fiscal years beginning after December 15, 2020 with early adoption permitted. The adoption of ASU 2019-12 did not have a material impact on the Company’s consolidated financial statements. In March 2020, FASB issued ASU 2020-04, Reference Rate Reform (ASU 2020-04) which provides optional expedients and exceptions for applying U.S. GAAP to contacts, hedging relationships, and other transactions affected by the discontinuance of LIBOR or another referenced rate. ASU 2020-04 is effective for fiscal years beginning after December 31, 2022. While the Company is currently evaluating the effect that the implementation of this guidance will have on its consolidated financial statements, no significant impact is anticipated. In October 2020, the FASB issued ASU 2020-10, Codification Improvements, which clarifies various topics in the Accounting Standards Codification, including the addition of existing disclosure requirements to the relevant disclosure sections. The guidance is effective for fiscal years beginning after December 15, 2020 with early adoption permitted. The adoption of ASU 2020-10 did not have a material impact on the Company’s consolidated financial statements.
Land Development	Land Development During the first quarter of 2006, the Company received final subdivision approval on an approximate 336 acre parcel in the region "mauka" (toward the mountains) from the main highway serving the area. This project, called Kaanapali Coffee Farms, originally consisted of 51 fifty-one Project costs associated with the development and construction of real estate projects are capitalized and classified as Property, net. Such capitalized costs are not in excess of the projects' estimated fair value as reviewed periodically or as considered necessary. In addition, interest, insurance and property tax are capitalized to qualifying assets during the period that such assets are undergoing activities necessary to prepare them for their intended use. For development projects, capitalized costs are allocated using the direct method for expenditures that are specifically associated with the lot being sold and the relative-sales-value method for expenditures that benefit the entire project.
Recognition of Profit From Real Property Sales	Recognition of Profit From Real Property Sales In accordance with the core principle of ASC 606, revenue from real property sales is recognized at the time of closing when control of the property transfers to the customer. After closing of the sale transaction, the Company has no remaining performance obligation. When the sale does not meet the requirements for full profit recognition, all or a portion of the profit is deferred until such requirements are met. Other revenues in the scope of ASC 606 are recognized when control of goods or services transfers to the customers, in the amount that the Company expects to receive for the transfer of goods or provision of services.
Property	Property Property is stated at cost. Depreciation is based on the straight-line method over the estimated economic lives of 15 40 3 18 Provisions for impairment losses related to long-lived assets, if any, are recognized when expected future cash flows are less than the carrying values of the assets. If indicators of impairment are present, the Company evaluates the carrying value of the related long-lived assets in relationship to the future undiscounted cash flows of the underlying operations or anticipated sales proceeds. The Company adjusts the net book value of property to fair value if the sum of the expected undiscounted future cash flow or sales proceeds is less than book value. Assets held for sale are recorded at the lower of the carrying value of the asset or fair value less costs to sell. 2021 2020 Property, net: Land $ 61,267 $ 61,678 Buildings 1,229 1,229 Machinery and equipment 5,564 5,453 68,060 68,360 Accumulated depreciation (5,969 (5,700) Property, net $ 62,091 $ 62,660 Inventory of land held for sale of approximately $3,045 $736 The Company's significant property holdings are on the island of Maui consisting of approximately 3,900 1,500 In September 2014, Kaanapali Land Management Corp. (“KLMC”), pursuant to a property and option purchase agreement with an unrelated third party, closed on the sale of an approximate 14.9 $3,300 $583 18.5 $4,078 $525
Other Liabilities	Other Liabilities Other liabilities are comprised of estimated liabilities for losses, commitments and contingencies related to various divested assets or operations. These estimated liabilities include the estimated effects of certain asbestos related claims, obligations related to former officers and employees such as pension, post-retirement benefits and workmen's compensation, investigation and potential remedial efforts in connection with environmental matters in the state of Hawaii. Management's estimates are based, as applicable, on taking into consideration claim amounts filed by third parties, life expectancy of beneficiaries, advice of consultants, negotiations with claimants, historical settlement experience, the number of new cases expected to be filed and the likelihood of liability in specific situations. Management periodically reviews the adequacy of each of its loss contingency amounts and adjusts such as it determines the appropriate loss contingency amount to reflect current information. Reference is made to Note 7, Commitments and Contingencies.
Use of Estimates	Use of Estimates The preparation of financial statements in conformity with accounting principles generally accepted in the United States requires management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. Actual results could differ from those estimates.
Short-Term Investments	Short-Term Investments It is the Company's policy to classify all of its investments in U.S. Government obligations with original maturities greater than three months as held-to maturity, as the Company has the ability and intent to hold these investments until their maturity, and are recorded at amortized cost, which approximates fair value.
Income Taxes	Income Taxes Income taxes are accounted for under the asset and liability approach which requires recognition of deferred tax assets and liabilities for the differences between the financial reporting and tax basis of assets and liabilities. A valuation allowance reduces deferred tax assets when it is more likely than not some portion or all of the deferred tax assets will not be realized. As of December 31, 2021 and 2020, there were no uncertain tax positions that had a material impact on the Company's consolidated financial statements.

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Tables)	12 Months Ended
	Dec. 31, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Schedule of Revenues Subject to Revenue Recognition Standards	Years ended December 31, 2021 2020 2019 Sales of real estate $ 1,040 $ -- $ -- Coffee and other crop sales 2,557 1,873 2,909 Total $ 3,597 $ 1,873 $ 2,909
Schedule of Property, Net	2021 2020 Property, net: Land $ 61,267 $ 61,678 Buildings 1,229 1,229 Machinery and equipment 5,564 5,453 68,060 68,360 Accumulated depreciation (5,969 (5,700) Property, net $ 62,091 $ 62,660

Employee Benefit Plans (Tables)

Employee Benefit Plans (Tables)	12 Months Ended
	Dec. 31, 2021
Retirement Benefits [Abstract]
The following table sets forth by level, within the fair value hierarchy, the Pension Plan's assets at fair value as of December 31, 2021:	The following table sets forth by level, within the fair value hierarchy, the Pension Plan's assets at fair value as of December 31, 2021: Level 1 Level 2 Level 3 Total Mutual funds $ 3,000 $ 0 $ 0 $ 3,000 Collective investment funds 0 15,700 0 15,700 Cash and cash equivalents 700 0 0 700 3,700 15,700 0 19,400 Investments in private equity funds 1,000 Investments in partnerships 0 Total Pension Plan assets at fair value $ $ $ 0 $ 20,400 The following table sets forth by level, within the fair value hierarchy, the Pension Plan's assets at fair value as of December 31, 2020: Level 1 Level 2 Level 3 Total Mutual funds $ 2,500 $ 0 $ 0 $ 2,500 Collective investment funds 0 14,000 0 14,000 Cash and cash equivalents 100 0 0 100 2,600 14,000 0 16,600 Investments in private equity funds 1,300 Investments in partnerships 0 Total Pension Plan assets at fair value $ $ $ 0 $ 17,900
The following table sets forth a summary of changes in fair value of the plan's level 3 assets and assets measured at net asset value “NAV” for the year ended December 31, 2021:	The following table sets forth a summary of changes in fair value of the plan's level 3 assets and assets measured at net asset value “NAV” for the year ended December 31, 2021: Level 3 Measured at NAV Investment in Insurance Companies Investment in Partnerships Investment in Private Equity Funds Total Balance, beginning of year $ 0 $ 0 $ 1,300 $ 1,300 Net earned interest and realized/unrealized gains (losses) 0 0 200 200 Purchases, sales, issuance and settlements 0 0 (500) (500) Balance, end of year $ 0 $ 0 $ 1,000 $ 1,000 The following table sets forth a summary of changes in fair value of the plan's level 3 assets and assets measured at net asset value “NAV” for the year ended December 31, 2020: Level 3 Measured at NAV Investment in Insurance Companies Investment in Partnerships Investment in Private Equity Funds Total Balance, beginning of year $ 0 $ 100 $ 1,400 $ 1,500 Net earned interest and realized/unrealized gains (losses) 0 (100) (100) (200) Balance, end of year $ 0 $ 0 $ 1,300 $ 1,300
Schedule of Changes in Pension Benefit Obligations, Plan Assets and Funded Status of Defined Benefit Pension Plan	2021 2020 2019 Benefit obligation at beginning of year $ 393 $ 614 $ 816 Service cost 283 363 548 Interest cost 6 13 24 Actuarial gain (232) (279) (467) Benefits paid (13) (318) (31) Settlement -- -- (276) Accumulated and projected benefit obligation at end of year 437 393 614 Fair value of plan assets at beginning of year 17,924 16,123 14,787 Actual return on plan assets 2,472 2,119 2,110 Benefits paid (13) (318) (31) Settlement -- -- (743) Fair value of plan assets at end of year 20,383 17,924 16,123 Funded status 19,946 17,531 15,509 Unrecognized net actuarial (gain) loss ( 3,106 ( 1,279 321 Unrecognized prior service cost -- -- 1 Prepaid pension cost $ 16,840 $ 16,252 $ 15,831
Schedule of Components of Net Periodic Pension Credit	2021 2020 2019 Service costs $ 283 $ 363 $ 548 Interest cost 6 13 24 Expected return on plan assets (916) (866) (866) Recognized net actuarial loss 39 68 196 Amortization of prior service cost -- 1 4 Loss on settlement -- -- 400 Net periodic pension cost (credit) $ (588) $ (421) $ 306
Schedule of Weighted Average Assumptions Used in Valuing Pension Obligations	2021 2020 2019 As of January 1 Discount rate 1.95% 2.93% 3.96% Rates of compensation increase 3% 3% 3% Expected long-term rate of return on assets 6% 6% 6% As of December 31 Discount rate – net periodic pension credit 1.95% 2.93% 3.96% Discount rate – accumulated benefit obligation 0.66% 1.95% 2.93% Rates of compensation increase 3% 3% 3% Expected long-term rate of return on assets 6% 6% 6%
Schedule of Future Benefit Payments Under Pension Plan	Amounts 2022 $ 478
Schedule of Effect of 1% Change in Discount, Salary and Return on Assets Rates	2021 Discount Rate 2021 Salary Increase 2020 Discount Rate 2020 Salary Increase Effect of a 1% increase on: Net periodic pension cost $ 0 $ 1 $ 1 $ 1 Pension benefit obligation at year end $ (4) $ 0 $ (16 $ 7 Effect of a 1% decrease on: Net periodic pension cost $ 0 $ (1) $ (1 $ (1 Pension benefit obligation at year end $ 4 $ 0 $ 18 $ (6

Income Taxes (Tables)

Income Taxes (Tables)	12 Months Ended
	Dec. 31, 2021
Income Tax Disclosure [Abstract]
Schedule of Components of Income Tax Expense (Benefit)	Current Deferred Total Year ended December 31, 2021: U.S. federal $ -- $ 282 $ 282 State -- 68 68 $ -- $ 350 $ 350 Year ended December 31, 2020: U.S. federal $ -- $ (775) $ (775) State -- (184) (184) $ -- $ (959) $ (959) Year ended December 31, 2019: U.S. federal $ -- $ (957) $ (957) State -- (225) (225) $ -- $ (1,182) $ (1,182)
Schedule of Reconciliation of Statutory Income Tax Rate	2021 2020 2019 Provision at statutory rate $ 155 $ (1,222) $ (1,250) Federal NOLs utilized -- -- -- Federal NOLs generated -- -- -- State NOLs utilized -- -- -- State NOLs generated 150 258 193 Reversal of valuation allowance on AMT credits -- -- (183) Other 45 5 58 Total $ 350 $ (959) $ (1,182)
Schedule of Deferred Tax Assets and Liabilities	December 31, 2021 2020 2019 Deferred tax assets: Loss contingencies related primarily to losses on divestitures, less recognized insurance recovery $ 2,264 $ 3,207 $ 3,197 Loss carryforwards 14,015 13,118 11,780 Other, net 255 269 290 Total deferred tax assets 16,534 16,594 15,267 Less – valuation allowance 10,379 10,229 9,971 Total deferred tax assets 6,155 6,365 5,296 Deferred tax liabilities: Property, plant and equipment, principally due to purchase accounting adjustments, net of impairment charges 10,322 10,334 10,333 Prepaid pension costs 5,760 5,132 4,606 Total deferred tax liabilities 16,082 15,466 14,939 Net deferred tax liability $ 9,927 $ 9,101 $ 9,643

Business Segment Information (T

Business Segment Information (Tables)	12 Months Ended
	Dec. 31, 2021
Segment Reporting [Abstract]
Schedule of Information by Segment	2021 2020 2019 Revenues: Property $ 1,304 $ 877 $ 491 Agriculture 3,340 2,440 3,472 Corporate 109 36 221 $ 4,753 $ 3,353 $ 4,184 Operating income (loss): Property $ (1,357) $ (1,537) $ (2,377) Agriculture (24) (936) 356 (1,381) (2,473) (2,021) Corporate 1,425 (2,985) (3,031) Operating income (loss) before income taxes $ 44 $ (5,458) $ (5,052) Identifiable Assets: Property $ 14,923 $ 16,816 $ 18,980 Agriculture 58,207 57,170 57,529 73,130 73,986 76,509 Corporate 34,066 28,162 29,649 $ 107,196 $ 102,148 $ 106,158
Schedule of Capital Expenditures and Depreciation and Amortization by Segment	2021 2020 2019 Capital Expenditures: Property $ 325 $ 497 $ 406 Agriculture 111 183 235 $ 436 $ 680 $ 641 Depreciation and Amortization: Property $ 72 $ 62 $ 57 Agriculture 197 156 144 $ 269 $ 218 $ 201

Calculation of Net Income Per_2

Calculation of Net Income Per Share (Tables)	12 Months Ended
	Dec. 31, 2021
Earnings Per Share [Abstract]
Schedule of Computation of Net Income (Loss) Per Share - Basic and Diluted	Year Ended December 31, 2021 Year Ended December 31, 2020 Year Ended December 31, 2019 (Amounts in thousands except per share amounts) Numerator: Net income (loss) $ (306) $ (4,499) $ (3,870) Less: Net loss attributable to non-controlling interests (551) (759) (243) Net income (loss) attributable to stockholders $ 245 $ (3,740) $ (3,627) Denominator: Number of weighted average shares – basic and diluted 1,845 1,845 1,845 Net income (loss) per share, attributable to Kaanapali Land – basic and diluted $ 0.13 $ (2.03) $ (1.97)

Schedule of Revenues Subject to

Schedule of Revenues Subject to Revenue Recognition Standards (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Sales of real estate	$ 1,040
Coffee and other crop sales	2,557	1,873	2,909
Total	$ 3,597	$ 1,873	$ 2,909

Schedule of Property, Net (Deta

Schedule of Property, Net (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Property, Plant and Equipment [Line Items]
Property, gross	$ 68,060	$ 68,360
Accumulated depreciation	(5,969)	(5,700)
Property, net	62,091	62,660
Land [Member]
Property, Plant and Equipment [Line Items]
Property, gross	61,267	61,678
Building [Member]
Property, Plant and Equipment [Line Items]
Property, gross	1,229	1,229
Machinery and Equipment [Member]
Property, Plant and Equipment [Line Items]
Property, gross	$ 5,564	$ 5,453

Summary of Significant Accoun_4

Summary of Significant Accounting Policies (Details Narrative) $ in Thousands	1 Months Ended	12 Months Ended
	Sep. 30, 2014USD ($)a	Dec. 31, 2021USD ($)aLotsshares	Dec. 31, 2020USD ($)shares	Dec. 31, 2019USD ($)
Common stock, shares issued | shares		1,792,613	1,792,613
Common stock, shares outstanding | shares		1,792,613	1,792,613
Money market fund		$ 9,400
Lease income		835	$ 659	$ 738
Lease expense		$ 57	70	79
Number of agricultural lots held for sale | Lots		51
Total number of agricultural lots sold | Lots		51
Inventory of land held for sale		$ 3,045	736
Area of significant property holdings on island of Maui | a		3,900
Area of property holdings in Maui classified as conservation land which precludes development | a		1,500
Acres of land sold | a	14.9
Proceeds from sale of land	$ 3,300	$ 1,040
Additional acres offered to purchaser | a	18.5
Sales price for additional acres offered to purchaser	$ 4,078
Amount of nonrefundable option payment applied to the purchase of additional acres			$ 525
Maximum [Member]
Future funds committed by KLMC to improve parcel of land sold	$ 583
Land Improvements [Member] | Minimum [Member]
Property, estimated useful live		15 years
Land Improvements [Member] | Maximum [Member]
Property, estimated useful live		40 years
Machinery and Equipment [Member] | Minimum [Member]
Property, estimated useful live		3 years
Machinery and Equipment [Member] | Maximum [Member]
Property, estimated useful live		18 years
Common Class C [Member]
Common stock, shares issued | shares		52,000	52,000
Common stock, shares outstanding | shares		52,000	52,000

Mortgage Note Payable (Details

Mortgage Note Payable (Details Narrative) - Secured Debt [Member] - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Debt Instrument [Line Items]
Debt instrument, face amount	$ 70,000
Debt instrument, issuance date	Nov. 14, 2002
Debt instrument, maturity date	Sep. 30, 2029
Outstanding balance of principal and accrued interest	$ 90,565	$ 90,367
Debt instrument, interest rate	0.39%

Rental Arrangements (Details Na

Rental Arrangements (Details Narrative) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Leases [Abstract]
Rent expense incurred	$ 19	$ 18	$ 17

The following table sets forth

The following table sets forth by level, within the fair value hierarchy, the Pension Plan's assets at fair value as of December 31, 2021: (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Defined Benefit Plan Disclosure [Line Items]
Pension plan assets at fair value	$ 19,400	$ 16,600
Pension plan assets at fair value	20,400	17,900
Fair Value, Inputs, Level 1 [Member]
Defined Benefit Plan Disclosure [Line Items]
Pension plan assets at fair value	3,700	2,600
Fair Value, Inputs, Level 2 [Member]
Defined Benefit Plan Disclosure [Line Items]
Pension plan assets at fair value	15,700	14,000
Fair Value, Inputs, Level 3 [Member]
Defined Benefit Plan Disclosure [Line Items]
Pension plan assets at fair value	0	0
Mutual Fund [Member]
Defined Benefit Plan Disclosure [Line Items]
Pension plan assets at fair value	3,000	2,500
Mutual Fund [Member] | Fair Value, Inputs, Level 1 [Member]
Defined Benefit Plan Disclosure [Line Items]
Pension plan assets at fair value	3,000	2,500
Mutual Fund [Member] | Fair Value, Inputs, Level 2 [Member]
Defined Benefit Plan Disclosure [Line Items]
Pension plan assets at fair value	0	0
Mutual Fund [Member] | Fair Value, Inputs, Level 3 [Member]
Defined Benefit Plan Disclosure [Line Items]
Pension plan assets at fair value	0	0
Collective Investment Funds [Member]
Defined Benefit Plan Disclosure [Line Items]
Pension plan assets at fair value	15,700	14,000
Collective Investment Funds [Member] | Fair Value, Inputs, Level 1 [Member]
Defined Benefit Plan Disclosure [Line Items]
Pension plan assets at fair value	0	0
Collective Investment Funds [Member] | Fair Value, Inputs, Level 2 [Member]
Defined Benefit Plan Disclosure [Line Items]
Pension plan assets at fair value	15,700	14,000
Collective Investment Funds [Member] | Fair Value, Inputs, Level 3 [Member]
Defined Benefit Plan Disclosure [Line Items]
Pension plan assets at fair value	0	0
Cash and Cash Equivalents [Member]
Defined Benefit Plan Disclosure [Line Items]
Pension plan assets at fair value	700	100
Cash and Cash Equivalents [Member] | Fair Value, Inputs, Level 1 [Member]
Defined Benefit Plan Disclosure [Line Items]
Pension plan assets at fair value	700	100
Cash and Cash Equivalents [Member] | Fair Value, Inputs, Level 2 [Member]
Defined Benefit Plan Disclosure [Line Items]
Pension plan assets at fair value	0	0
Cash and Cash Equivalents [Member] | Fair Value, Inputs, Level 3 [Member]
Defined Benefit Plan Disclosure [Line Items]
Pension plan assets at fair value	0	0
Private Equity Funds [Member]
Defined Benefit Plan Disclosure [Line Items]
Pension plan assets at fair value	1,000	1,300
Investments In Partnerships [Member]
Defined Benefit Plan Disclosure [Line Items]
Pension plan assets at fair value	$ 0	$ 0

The following table sets fort_2

The following table sets forth a summary of changes in fair value of the plan's level 3 assets and assets measured at net asset value “NAV” for the year ended December 31, 2021: (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Defined Benefit Plan Disclosure [Line Items]
Balance, beginning of year	$ 16,600
Net earned interest and     realized/unrealized     gains (losses)	2,472	$ 2,119	$ 2,110
Balance, end of year	19,400	16,600
Aggregate Fair Value Inputs Level 3 And N A V [Member]
Defined Benefit Plan Disclosure [Line Items]
Balance, beginning of year	1,300	1,500
Net earned interest and     realized/unrealized     gains (losses)	200	(200)
Purchases, sales, issuance     and settlements	(500)
Balance, end of year	1,000	1,300	1,500
Fair Value, Inputs, Level 3 [Member]
Defined Benefit Plan Disclosure [Line Items]
Balance, beginning of year	0
Balance, end of year	0	0
Investments In Insurance Companies [Member] | Fair Value, Inputs, Level 3 [Member]
Defined Benefit Plan Disclosure [Line Items]
Balance, beginning of year	0	0
Net earned interest and     realized/unrealized     gains (losses)	0	0
Purchases, sales, issuance     and settlements	0
Balance, end of year	0	0	0
Investments In Partnerships [Member] | Fair Value, Inputs, Level 3 [Member]
Defined Benefit Plan Disclosure [Line Items]
Balance, beginning of year	0	100
Net earned interest and     realized/unrealized     gains (losses)	0	(100)
Purchases, sales, issuance     and settlements	0
Balance, end of year	0	0	100
Private Equity Funds [Member] | Fair Value, Inputs, Level 3 [Member]
Defined Benefit Plan Disclosure [Line Items]
Balance, beginning of year	1,300	1,400
Net earned interest and     realized/unrealized     gains (losses)	200	(100)
Purchases, sales, issuance     and settlements	(500)
Balance, end of year	$ 1,000	$ 1,300	$ 1,400

Schedule of Changes in Pension

Schedule of Changes in Pension Benefit Obligations, Plan Assets and Funded Status of Defined Benefit Pension Plan (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Retirement Benefits [Abstract]
Benefit obligation at beginning of year	$ 393	$ 614	$ 816
Service cost	283	363	548
Interest cost	6	13	24
Actuarial gain	(232)	(279)	(467)
Benefits paid	(13)	(318)	(31)
Settlement			(276)
Accumulated and projected benefit obligation   at end of year	437	393	614
Fair value of plan assets at beginning of year	17,924	16,123	14,787
Actual return on plan assets	2,472	2,119	2,110
Settlement			(743)
Fair value of plan assets at end of year	20,383	17,924	16,123
Funded status	19,946	17,531	15,509
Unrecognized net actuarial (gain) loss	3,106	1,279	321
Unrecognized prior service cost			1
Prepaid pension cost	$ 16,840	$ 16,252	$ 15,831

Schedule of Components of Net P

Schedule of Components of Net Periodic Pension Credit (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Retirement Benefits [Abstract]
Service costs	$ 283	$ 363	$ 548
Interest cost	6	13	24
Expected return on plan assets	(916)	(866)	(866)
Recognized net actuarial loss	39	68	196
Amortization of prior service cost		1	4
Loss on settlement			400
Net periodic pension cost (credit)	$ (588)	$ (421)	$ 306

Schedule of Weighted Average As

Schedule of Weighted Average Assumptions Used in Valuing Pension Obligations (Details)	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Retirement Benefits [Abstract]
Discount rate - net periodic pension credit	1.95%	2.93%	3.96%
Discount rate - accumulated benefit obligation	0.66%	1.95%	2.93%
Rates of compensation increase	3.00%	3.00%	3.00%
Expected long-term rate of return on assets	6.00%	6.00%	6.00%

Schedule of Future Benefit Paym

Schedule of Future Benefit Payments Under Pension Plan (Details) $ in Thousands	Dec. 31, 2021USD ($)
Retirement Benefits [Abstract]
2022	$ 478

Schedule of Effect of 1% Change

Schedule of Effect of 1% Change in Discount, Salary and Return on Assets Rates (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Effect of a 1% increase in the rate of return on assets	$ (153)
Effect of a 1% decrease in the rate of return on assets	153
Pension Plan Discount Rate [Member]
Effect of a 1% increase on net periodic pension cost	0	$ 1
Effect of a 1% increase on pension benefit obligation at year end	(4)	(16)
Effect of a 1% decrease on net periodic pension cost	0	(1)
Effect of a 1% decrease on pension benefit obligation ast year end	4	18
Pension Plan Salary Increase [Member]
Effect of a 1% increase on net periodic pension cost	1	1
Effect of a 1% increase on pension benefit obligation at year end	0	7
Effect of a 1% decrease on net periodic pension cost	(1)	(1)
Effect of a 1% decrease on pension benefit obligation ast year end	$ 0	$ (6)

Employee Benefit Plans (Details

Employee Benefit Plans (Details Narrative) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Defined Benefit Plan Disclosure [Line Items]
Unrecognized actuarial gain that have not yet been recognized in net periodic pension cost, before tax	$ 3,106	$ 1,279
Unrecognized actuarial gain that have not yet been recognized in net periodic pension cost, after tax	2,298	946
Deferred liability for nonqualified deferred compensation arrangement ("Rabbi Trust")	356	369
Assets held under deferred compensation arrangement ("Rabbi Trust")	$ 3	$ 13
Cash and Cash Equivalents [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan investment target allocation percentages	3.00%
Other Composite [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan investment target allocation percentages	5.00%
Alternative Investments [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan investment target allocation percentages	92.00%

Schedule of Components of Incom

Schedule of Components of Income Tax Expense (Benefit) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Income Tax Disclosure [Abstract]
U.S. federal - current
U.S. federal - deferred	282	(775)	(957)
Total U.S. Federal - current and deferred	282	(775)	(957)
State - current
State - deferred	68	(184)	(225)
Total State - current and deferred	68	(184)	(225)
U.S. federal and state - current
U.S. federal and state - deferred	350	(959)	(1,182)
Total	$ 350	$ (959)	$ (1,182)

Schedule of Reconciliation of S

Schedule of Reconciliation of Statutory Income Tax Rate (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Income Tax Disclosure [Abstract]
Provision at statutory rate	$ 155	$ (1,222)	$ (1,250)
Federal NOLs utilized
Federal NOLs generated
State NOLs utilized
State NOLs generated	150	258	193
Reversal of valuation allowance on   AMT credits			(183)
Other	45	5	58
Total	$ 350	$ (959)	$ (1,182)

Schedule of Deferred Tax Assets

Schedule of Deferred Tax Assets and Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Deferred tax assets:
Loss contingencies related primarily to     losses on divestitures, less recognized     insurance recovery	$ 2,264	$ 3,207	$ 3,197
Loss carryforwards	14,015	13,118	11,780
Other, net	255	269	290
Total deferred tax assets	16,534	16,594	15,267
Less – valuation allowance	10,379	10,229	9,971
Total deferred tax assets	6,155	6,365	5,296
Deferred tax liabilities:
Property, plant and equipment, principally     due to purchase accounting adjustments,     net of impairment charges	10,322	10,334	10,333
Prepaid pension costs	5,760	5,132	4,606
Total deferred tax liabilities	16,082	15,466	14,939
Net deferred tax liability	$ 9,927	$ 9,101	$ 9,643

Income Taxes (Details Narrative

Income Taxes (Details Narrative) - USD ($) $ in Thousands	1 Months Ended		12 Months Ended
	Feb. 28, 2022	Jul. 31, 2021	Dec. 31, 2021
Operating Loss Carryforwards [Line Items]
Expected refundable tax credit included in other assets received	$ 1,483	$ 1,486
U.S. federal income tax rate			26.00%
Domestic Tax Authority [Member]
Operating Loss Carryforwards [Line Items]
Net operating loss carryforwards			$ 10,590
Portion of net operating loss carryforward subject to valuation allowance			6,953
State and Local Jurisdiction [Member]
Operating Loss Carryforwards [Line Items]
Net operating loss carryforwards			$ 3,426

Transactions with Affiliates (D

Transactions with Affiliates (Details Narrative) - Affiliated Entity [Member] - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Related Party Transaction [Line Items]
Insurance brokerage commissions incurred during period with related party	$ 49	$ 35	$ 20
Selling, general and administrative expenses incurred during the period with related parties	1,464	1,466	1,276
Amounts due to affiliates not yet paid	0
Revenue from farming and common area maintenance services and for providing non-potable water to the Kaanapali Coffee Farms Lot Owners Association ('LOA')	$ 1,315	$ 1,305	$ 1,297

Commitments and Contingencies (

Commitments and Contingencies (Details Narrative) - USD ($) $ in Thousands	1 Months Ended
	Jul. 31, 2021	Jun. 30, 2007	Dec. 31, 2021	Jun. 30, 2014	Dec. 31, 2013
Gain Contingencies [Line Items]
Insurance Settlement Agreement, proposed escrow funding			$ 6,800
Litigation settlement from Conset Decree	$ 7,500
Proposed settlement to be paid by Fireman's Fund			$ 2,441
Approximate future costs and expenditures KLMC remains committed for on uncompleted portion of Bypass Highway					$ 1,100
Maximum amount KLMC has agreed to contribute towards construction costs on Bypass Highway project					$ 6,700
Oahu Sugar Bankruptcy [Member]
Gain Contingencies [Line Items]
Amount of claims filed				$ 224,000
Oahu Sugar Bankruptcy [Member] | Minimum [Member]
Gain Contingencies [Line Items]
Additional anticipated response costs submitted in bankruptcy proof of claim				2,760
Oahu Sugar Bankruptcy [Member] | Maximum [Member]
Gain Contingencies [Line Items]
Additional anticipated response costs submitted in bankruptcy proof of claim				11,450
Dc Distribution [Member]
Gain Contingencies [Line Items]
Litigation settlement		$ 1,618
Dc Distributions Bankruptcy [Member]
Gain Contingencies [Line Items]
Amount of claims filed				$ 26,800

Schedule of Information by Segm

Schedule of Information by Segment (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Revenues:
Revenues	$ 4,753	$ 3,353	$ 4,184
Operating income (loss):
Operating income (loss) from continuing operations before income taxes	44	(5,458)	(5,052)
Identifiable assets	107,196	102,148	106,158
Property [Member]
Revenues:
Revenues	1,304	877	491
Operating income (loss):
Operating income (loss)	(1,357)	(1,537)	(2,377)
Identifiable assets	14,923	16,816	18,980
Agriculture [Member]
Revenues:
Revenues	3,340	2,440	3,472
Operating income (loss):
Operating income (loss)	(24)	(936)	356
Identifiable assets	58,207	57,170	57,529
Corporate Segment [Member]
Revenues:
Revenues	109	36	221
Operating income (loss):
Operating income (loss)	1,425	(2,985)	(3,031)
Identifiable assets	34,066	28,162	29,649
Property And Agriculture [Member]
Operating income (loss):
Operating income (loss)	(1,381)	(2,473)	(2,021)
Identifiable assets	$ 73,130	$ 73,986	$ 76,509

Schedule of Capital Expenditure

Schedule of Capital Expenditures and Depreciation and Amortization by Segment (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Segment Reporting Information [Line Items]
Capital expenditures	$ 436	$ 680	$ 641
Depreciation and amortization	269	218	201
Property [Member]
Segment Reporting Information [Line Items]
Capital expenditures	325	497	406
Depreciation and amortization	72	62	57
Agriculture [Member]
Segment Reporting Information [Line Items]
Capital expenditures	111	183	235
Depreciation and amortization	$ 197	$ 156	$ 144

Schedule of Computation of Net

Schedule of Computation of Net Income (Loss) Per Share - Basic and Diluted (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Numerator:
Net income (loss)	$ (306)	$ (4,499)	$ (3,870)
Less: Net loss attributable to non-controlling     interests	(551)	(759)	(243)
Net income (loss) attributable to stockholders	$ 245	$ (3,740)	$ (3,627)
Denominator:
Number of weighted average shares –   basic and diluted	1,845	1,845	1,845
Net income (loss) per share, attributable to   Kaanapali Land – basic and diluted	$ 0.13	$ (2.03)	$ (1.97)

Calculation of Net Income Per_3

Calculation of Net Income Per Share (Details Narrative) - shares	Dec. 31, 2021	Dec. 31, 2020
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
Common stock, shares issued	1,792,613	1,792,613
Common stock, shares outstanding	1,792,613	1,792,613
Common Class C [Member]
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
Common stock, shares issued	52,000	52,000
Common stock, shares outstanding	52,000	52,000

Subsequent Events (Details Narr

Subsequent Events (Details Narrative) - USD ($) $ in Thousands	1 Months Ended		12 Months Ended
	Mar. 22, 2022	Sep. 30, 2014	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Subsequent Event [Line Items]
Proceeds from sale of agricultural lot		$ 3,300	$ 1,040
Subsequent Event [Member]
Subsequent Event [Line Items]
Proceeds from sale of agricultural lot	$ 5,000