Kaanapali Land (KANP) 10-Q 14 Nov 23 2023 Q3 Quarterly report Financial data

Cover

Cover - shares	9 Months Ended
	Sep. 30, 2023	Nov. 14, 2023
Cover [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Quarterly Report	true
Document Transition Report	false
Document Period End Date	Sep. 30, 2023
Document Fiscal Period Focus	Q3
Document Fiscal Year Focus	2023
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
No Trading Symbol Flag	true
Security Exchange Name	NONE
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 Common Stock, Shares Outstanding		1,792,613

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Assets
Cash and cash equivalents	$ 30,362	$ 19,815
Property, net	59,530	58,988
Investments		19,115
Prepaid retirement plan contribution	5,000
Other assets	1,590	596
Total assets	96,482	98,514
Liabilities
Accounts payable and accrued expenses	3,518	643
Deposits and deferred gains	1,160	1,371
Deferred income taxes	6,469	9,322
Other liabilities	1,662	7,174
Total liabilities	12,809	18,510
Equity
Common equity, at 9/30/23 and 12/31/22   (Shares authorized – unlimited; shares issued and       outstanding – 1,792,613 common shares and       52,000 Class C shares)
Additional paid-in capital	5,471	5,471
Accumulated earnings	78,202	74,533
Total shareholders’ equity	83,673	80,004
Total liabilities and shareholders’ equity	$ 96,482	$ 98,514

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) - shares	Sep. 30, 2023	Dec. 31, 2022
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 issued	52,000	52,000
Common stock, shares outstanding	52,000	52,000

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Revenues:
Sales and rental revenues	$ 498	$ 1,059	$ 2,798	$ 8,311
Interest and other income	525	45	1,293	78
Crop insurance proceeds	509		509
Total revenues	1,532	1,104	4,600	8,389
Cost and expenses:
Cost of sales	838	808	2,262	6,092
Selling, general and     administrative	1,451	856	(1,589)	747
Excise tax expense	2,955		2,955
Depreciation and     amortization	52	55	156	189
Total cost and expenses	5,296	1,719	3,784	7,028
Operating income (loss)     before income taxes	(3,764)	(615)	816	1,361
Income tax benefit (expense)	4,044	160	2,853	(369)
Net income (loss)	280	(455)	3,669	992
Less: Net income (loss)           attributable to non           controlling interests				(58)
Net income (loss)           attributable to           shareholders	$ 280	$ (455)	$ 3,669	$ 1,050

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Operations (Parenthetical) - $ / shares	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Income Statement [Abstract]
Earnings Per Share, Diluted	$ 0.15	$ (0.25)	$ 1.99	$ 0.57
Net income (loss) per share - basic	$ 0.15	$ (0.25)	$ 1.99	$ 0.57

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Comprehensive Income (Loss) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Income Statement [Abstract]
Net income (loss)	$ 280	$ (455)	$ 3,669	$ 992
Other comprehensive income:
Net unrealized (gains) losses      on pension plan assets		(4)		(25)
Other comprehensive income,   before tax		(4)		(25)
Income tax benefit (expense) related to items of other comprehensive income		(1)		6
Other comprehensive income,   net of tax		(5)		(19)
Comprehensive income (loss)		(460)		973
Comprehensive income (loss)   attributable to non controlling   interests				(58)
Comprehensive income (loss)   attributable to shareholders	$ 280	$ (460)	$ 3,669	$ 1,031

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Stockholders' Equity - USD ($) $ in Thousands	Common Stock [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]	Parent [Member]	AOCI Attributable to Parent [Member]	Noncontrolling Interest [Member]	Total
Beginning balance, value at Dec. 31, 2021		$ 5,471	$ 71,698	$ 79,467	$ 2,298	$ 742	$ 80,209
Net loss			2,407	2,407		(89)	2,318
Effect of deconsoli-   dating Kaanapali   Coffee Farms   Lot Owners’   Association			(15)	(15)		207	192
Other comprehensive   income, net of tax				(13)	(13)		(13)
Ending balance, value at Mar. 31, 2022		5,471	74,090	81,846	2,285	860	82,706
Beginning balance, value at Dec. 31, 2021		5,471	71,698	79,467	2,298	742	80,209
Net loss							992
Other comprehensive   income, net of tax							(19)
Ending balance, value at Sep. 30, 2022		5,471	72,733	80,483	2,279		80,483
Beginning balance, value at Mar. 31, 2022		5,471	74,090	81,846	2,285	860	82,706
Net loss			(902)	(902)		31	(871)
Effect of deconsoli-   dating Kaanapali   Coffee Farms   Lot Owners’   Association						193	193
Other comprehensive   income, net of tax				(1)	(1)		(1)
Ending balance, value at Jun. 30, 2022		5,471	73,188	80,943	2,284	1,084	82,027
Net loss			(455)	(455)			(455)
Effect of deconsoli-   dating Kaanapali   Coffee Farms   Lot Owners’   Association						(1,084)	(1,084)
Other comprehensive   income, net of tax				(5)	(5)		(5)
Ending balance, value at Sep. 30, 2022		5,471	72,733	80,483	$ 2,279		80,483
Beginning balance, value at Dec. 31, 2022		5,471	74,533	80,004
Net loss			(336)	(336)
Ending balance, value at Mar. 31, 2023		5,471	74,197	79,668
Beginning balance, value at Dec. 31, 2022		5,471	74,533	80,004
Net loss							3,669
Other comprehensive   income, net of tax
Ending balance, value at Sep. 30, 2023		5,471	78,202	83,673
Beginning balance, value at Mar. 31, 2023		5,471	74,197	79,668
Net loss			3,725	3,725
Ending balance, value at Jun. 30, 2023		5,471	77,922	83,393
Net loss			280	280			280
Other comprehensive   income, net of tax
Ending balance, value at Sep. 30, 2023		$ 5,471	$ 78,202	$ 83,673

Condensed Consolidated Statem_5

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022
Statement of Cash Flows [Abstract]
Net cash provided by operating activities	$ 12,021	$ 3,919
Net cash used in investing activities:
Property additions	(1,097)	(248)
Property disposals	399
Receivable due to sewer line installation	(776)
Effect of deconsolidating Kaanapali Coffee Farms     Lot Owners’ Association		(937)
	(1,474)	(1,185)
Net cash provided by financing activities:
Contributions		385
		385
Net increase in cash and cash equivalents	10,547	3,119
Cash and cash equivalents at beginning of period	19,815	17,837
Cash and cash equivalents at end of period	$ 30,362	$ 20,956

Summary of Significant Accounti

Summary of Significant Accounting Policies	9 Months Ended
	Sep. 30, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Summary of Significant Accounting Policies	(1) Summary of Significant Accounting Policies Basis of Presentation The accompanying condensed consolidated financial statements include the accounts of Kaanapali Land, LLC (“Kaanapali Land”) and all of its subsidiaries and its predecessors (collectively, the “Company”). Prior to July 1, 2022, the Kaanapali Coffee Farms Lot Owners’ Association (“LOA”) was consolidated into the Company’s consolidated financial statements and the interests of third-party owners of the lots in the Kaanapali Coffee Farms subdivision were reflected as equity including noncontrolling interests. The Company sold its last owned lot in the Kaanapali Coffee Farms subdivision in early 2022 and as a consequence, the Company elected to turnover control of the LOA board of directors to the third-party owners of the lots in the subdivision. An election for a new board of directors, comprised entirely of third-party lot owners, was held during June 2022 and the results of the election were announced July 1, 2022. Therefore, effective July 1, 2022, the Company deconsolidated the LOA due to the loss of control over the LOA and derecognized the assets, liabilities, equity (including the non controlling interests) and results of operations in its financial statements. The Company does not have any direct or indirect retained interest in the LOA. The Company currently has agreements with the LOA to farm coffee, perform common area maintenance services and provide delivery of non-potable water. The Company's continuing operations are in two business segments - Agriculture and Property. The Agriculture segment primarily engages in farming, harvesting and milling operations relating to coffee orchards pursuant to farming agreements with the LOA and a related entity. 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. The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States (“U.S. GAAP”) for interim financial information and with the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by U.S. GAAP for complete financial statements, and therefore, should be read in conjunction with the Company's Annual Report on Form 10-K for the year ended December 31, 2022 (“2022 Form 10-K”). These unaudited condensed consolidated financial statements include all normal and recurring adjustments considered necessary for a fair presentation of the financial position and results of operations and cash flows for interim periods in accordance with U.S. GAAP. A description of the Company’s significant accounting policies is included in Note 1 to the Notes to the Consolidated Financial Statements included in its 2022 Form 10-K. Except as noted below, there were no material changes in the Company’s significant accounting policies during the three and nine months ended September 30, 2023. Property The Company's significant property holdings are on the island of Maui and consist of approximately 3,900 1,500 Inventory of land held for sale is carried at the lower of cost or fair market value, less costs to sell, which is based on current and foreseeable market conditions, discussions with real estate brokers and review of historical land sale activity fair value hierarchy (Levels 2 and 3). Land is currently utilized for commercial specialty coffee farming operations which also support the Company's land development program, as well as farming bananas, citrus and other farm products and ranching operations. Additionally, miscellaneous parcels of land had been leased or licensed to third parties on a short term basis prior to the Lahaina Wildfire. Beginning on August 8, 2023, a wildfire occurred due east of historic Lahaina town in Maui. The fire spread rapidly due to extreme wind conditions caused in part by Hurricane Dora which traveled 800 miles offshore west of Maui. The fires caused multiple fatalities, widespread damage to Lahaina town and the surrounding area including the Company’s 19-acre Pioneer Mill site. The Company’s offices and coffee mill are located on the site as well as various other structures and a building which is leased to an unrelated third party and used to operate a coffee store. The Company also utilized portions of the property for short term license agreements with third parties that generates income for the Company. Although no employees were injured in the fire, the Company’s offices and coffee store building were destroyed. Additionally, it appears that most of the personal property of the licensees and the coffee mill was severely damaged if not destroyed. The widespread destruction is likely to cause disruptions in the Company’s development plans. The damage to the coffee mill has disrupted operations and will prevent the Company from processing and selling the current year coffee crop. It is also likely that the fires and devastation caused thereby will adversely affect the Maui economy and businesses operated on Maui. The Company continues to evaluate the extent of the damage to its property and equipment and has initiated claims with its insurance carriers. Access to the property remains restricted, and such restrictions are expected to continue for the near term. In October 2023, the Company received an initial, unallocated advance payment of $1,000 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. As a result of the fires, the Company performed an impairment evaluation of its asset groups to determine if provisions for impairment losses should be recognized. The Company concluded a provision for impairment should not be recognized for the current period. The Company will continue to monitor and evaluate the indicators for evidence of impairment in future periods. There can be no assurance that future impairment testing will not indicate that an impairment has occurred and that a provision for impairment will be required. While most of the personal property destroyed in the fire was fully depreciated the Company wrote off the net carrying value of destroyed equipment totaling approximately $400 Use of Estimates The preparation of financial statements in conformity with U.S. GAAP 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. Operating results for the nine months ended September 30, 2023 are not necessarily indicative of the results that may be achieved for the full year ending December 31, 2023 or in any other future periods. 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 September 30, 2023 is a money market fund for $27,650 Subsequent Events The Company has performed an evaluation of subsequent events from the date of the financial statements included in this quarterly report through the date of its filing with the Securities and Exchange Commission. 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 were as follows (in thousands): Three Months Ended September 30, Nine Months Ended September 30, 2023 2022 2023 2022 Sales of real estate $ 0 $ 0 $ 0 $ 4,750 Coffee and other sales 323 703 2,038 2,460 Total $ 323 $ 703 $ 2,038 $ 7,210 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 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 three and nine months ended September 30, 2023, the Company recognized $175 $760 $296 $834 $31 $80 $20 $54 Recently Issued Accounting Pronouncements In December 2022, the FASB issued ASU No. 2022-06, “Reference Rate Reform (Topic 848): Deferral of the Sunset Date of Topic 848”. The amendments in this Update defer the sunset date of Topic848 from December 31, 2022, to December 31, 2024, after which entities will no longer be permitted to apply the relief in Topic 848. The amendments in this Update are effective for all entities upon issuance of this Update. 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.

Land Development

Land Development	9 Months Ended
	Sep. 30, 2023
Real Estate [Abstract]
Land Development	(2) Land Development During the first quarter of 2006, the Company received final subdivision approval on an approximately 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 $5,000 In September 2014, Kaanapali Land Management Corp. (“KLMC”), pursuant to a property and option purchase agreement (“Purchase Agreement”) with an unrelated third party, closed on the sale of an approximately 14.9 $3,300 $583 $1,070 $972 $208 6.5

Mortgage Note Payable

Mortgage Note Payable	9 Months Ended
	Sep. 30, 2023
Debt Disclosure [Abstract]
Mortgage Note Payable	(3) 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 $90,467 $90,203 0.39

Employee Benefit Plans and Inve

Employee Benefit Plans and Investments	9 Months Ended
	Sep. 30, 2023
Retirement Benefits [Abstract]
Employee Benefit Plans and Investments	(4) Employee Benefit Plans and Investments Prior to June 1, 2022, the Company participated in a defined benefit pension plan (the “Pension Plan”) that covers substantially all its eligible employees. The Pension Plan was sponsored and maintained by Kaanapali Land in conjunction with other plans providing benefits to employees of Kaanapali Land and its affiliates. 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 June 1, 2022. Effective February 7, 2022, the fair value hierarchy Level 1 and Level 2 plan asset investments were reallocated to a money market fund. Benefit accruals were frozen on March 31, 2022. The Company paid lump sum benefits totaling approximately $ 420 19,397 The Company transferred $ 5,000 14,500 The Company is subject to a 20% excise tax of approximately $ 2,900 The components of the net periodic pension benefit (credit) included in selling, general and administrative in the Company’s condensed consolidated statements of operations are as follows (in thousands): Three Months Ended September 30, Nine Months Ended September 30, 2023 2022 2023 2022 Service cost $ -- $ 100 $ -- $ 311 Interest cost -- 2 -- 4 Expected return on plan assets -- (61) -- (183) Recognized net actuarial loss -- (4) -- (13) Curtailment (gain) loss -- -- -- (12) Net periodic pension cost (credit) $ -- $ 37 $ -- $ 107 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 deferred compensation liability of $ 329

Income Taxes

Income Taxes	9 Months Ended
	Sep. 30, 2023
Income Tax Disclosure [Abstract]
Income Taxes	(5) Income Taxes The statutes of limitations with respect to the Company's taxes for 2019 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 net operating losses (“NOL”) generated and not yet utilized are subject to adjustment by the Internal Revenue Service (“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 for which the Company is liable, the Company’s results of operations may be affected adversely and materially. The Tax Cuts and Jobs Act (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 NOL carryforwards, which will generally be limited to being used to offset 80% of future annual taxable income.

Transactions with Affiliates

Transactions with Affiliates	9 Months Ended
	Sep. 30, 2023
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. Commissions paid for the three and nine months ended September 30, 2023 were $ 0 23 1 15 The Company reimburses its affiliates 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 three and nine months ended September 30, 2023 and 2022 were $ 296 861 381 1,121 234 The Company had derived revenue from farming and common area maintenance services and for providing non-potable water to the LOA. The LOA is the association of the lot owners of the Kaanapali Coffee Farms. Effective July 1, 2022, the LOA is no longer an affiliate of the Company due to relinquishment of control over the LOA. The revenues for the nine months ended September 30, 2022 was $ 616

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
	Sep. 30, 2023
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	(7) Commitments and Contingencies 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. Under an insurance settlement the Company reached with Fireman’s Fund as a result of a complaint the Company filed against Fireman’s Fund in 2015, 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, if 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, resolved the U.S. federal government’s current 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 A subsidiary of the Company, D/C Distribution Corporation (“D/C”), filed a petition for liquidation under Chapter 7 of the Bankruptcy Code in July 2007. During the pendency of the bankruptcy case, D/C was not under control of the Company. At the time of the filing of the bankruptcy petition, Kaanapali Land, as successor by merger to other entities, and D/C had been named as defendants in personal injury actions allegedly based on exposure to asbestos. While there were 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”) were allegedly based on its prior business operations in Hawaii and cases against D/C were 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 has been 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 had 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 or about November 24, 2021 whereby Fireman’s Fund paid $2,441 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 during July 2007, Case No. 07-12776. Such filing was 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 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 only. Certain asbestos-related proofs claims in the bankruptcy case have been withdrawn in connection with closing. A court hearing was held on March 29, 2023 in which the court awarded the trustee’s compensation and expenses and therefore D/C no longer has any assets. On June 6, 2023, the bankruptcy trustee filed a final account and application to close the D/C bankruptcy and on June 14, 2023, the D/C bankruptcy court closed the case and the trustee was discharged. Due to the closing of the case, the Company derecognized a related contingent liability. The derecognition of the contingent liability is included as a reduction of Selling, general and administrative expenses and resulted in a credit in expenses on the Company’s consolidated statement of operations for the nine months ended September 30, 2023. However, personal injury claimants have asserted, and may in the future assert, asbestos-related claims against D/C. The Company has received notice from Hawaii’s Department of Land and Natural Resources (“DNLR”) that DNLR 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 April 2022. To date, the DLNR has 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, 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. Remediation plans for addressing all deficiencies have been submitted to DLNR. 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 third quarter 2023, the Company received $509 KLMC is a party to an agreement with the State of Hawaii for the development of the Lahaina Bypass Highway. An approximately 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 Lahaina 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 condensed consolidated financial statements. While the completion of the Lahaina 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.

Calculation of Net Income (Loss

Calculation of Net Income (Loss) Per Share	9 Months Ended
	Sep. 30, 2023
Earnings Per Share [Abstract]
Calculation of Net Income (Loss) Per Share	(8) Calculation of Net Income (Loss) Per Share The following tables set forth the computation of net income (loss) per share - basic and diluted: Three Months Ended September 30, Nine Months Ended September 30, (Amounts in thousands, except per share amounts) 2023 2022 2023 2022 Numerator: Net income (loss) $ 280 $ (455) $ 3,669 $ 992 Less: Net loss attributable to non controlling interests -- -- -- (58) Net income (loss) attributable to stockholders $ 280 $ (455) $ 3,669 $ 1,050 Denominator: Number of weighted average share outstanding - basic and diluted 1,845 1,845 1,845 1,845 Net income (loss) per share, attributable to Kaanapali Land - basic and diluted $ 0.15 $ (0.25) $ 1.99 $ 0.57

Business Segment Information

Business Segment Information	9 Months Ended
	Sep. 30, 2023
Segment Reporting [Abstract]
Business Segment Information	(9) Business Segment Information As described in Note 1, the Company operates in two business segments. Total revenues and operating profit by business segment are presented in the tables below. Total revenues by business segment includes 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. Three Months Ended September 30, Nine Months Ended September 30, 2023 2022 2023 2022 Revenues: Property $ 98 $ 95 $ 397 $ 4,982 Agriculture 931 990 2,995 3,384 Corporate 503 19 1,208 23 $ 1,532 $ 1,104 $ 4,600 $ 8,389 Operating income (loss): Property $ (414 $ (514 $ (1,175 $ 97 Agriculture 43 225 406 744 Operating income (loss) (371 (289 (769 841 Corporate (3,393 (326 1,585 520 Operating income (loss) before income taxes $ (3,764 $ (615 $ 816 $ 1,361 The Company’s Property segment consists primarily of revenue received from land sales and lease and licensing agreements. The Company’s Agriculture segment consists primarily of coffee operations and licensing agreements. The Company’s Corporate segment consists primarily of interest earned on investments. The Company is exploring alternative agricultural operations, but there can be no assurance that replacement operations at any level will result.

Subsequent Events

Subsequent Events	9 Months Ended
	Sep. 30, 2023
Subsequent Events [Abstract]
Subsequent Events	(10) Subsequent Events In October 2023, the Company received an initial, unallocated advance payment of $1,000

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	9 Months Ended
	Sep. 30, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	Basis of Presentation The accompanying condensed consolidated financial statements include the accounts of Kaanapali Land, LLC (“Kaanapali Land”) and all of its subsidiaries and its predecessors (collectively, the “Company”). Prior to July 1, 2022, the Kaanapali Coffee Farms Lot Owners’ Association (“LOA”) was consolidated into the Company’s consolidated financial statements and the interests of third-party owners of the lots in the Kaanapali Coffee Farms subdivision were reflected as equity including noncontrolling interests. The Company sold its last owned lot in the Kaanapali Coffee Farms subdivision in early 2022 and as a consequence, the Company elected to turnover control of the LOA board of directors to the third-party owners of the lots in the subdivision. An election for a new board of directors, comprised entirely of third-party lot owners, was held during June 2022 and the results of the election were announced July 1, 2022. Therefore, effective July 1, 2022, the Company deconsolidated the LOA due to the loss of control over the LOA and derecognized the assets, liabilities, equity (including the non controlling interests) and results of operations in its financial statements. The Company does not have any direct or indirect retained interest in the LOA. The Company currently has agreements with the LOA to farm coffee, perform common area maintenance services and provide delivery of non-potable water. The Company's continuing operations are in two business segments - Agriculture and Property. The Agriculture segment primarily engages in farming, harvesting and milling operations relating to coffee orchards pursuant to farming agreements with the LOA and a related entity. 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. The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States (“U.S. GAAP”) for interim financial information and with the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by U.S. GAAP for complete financial statements, and therefore, should be read in conjunction with the Company's Annual Report on Form 10-K for the year ended December 31, 2022 (“2022 Form 10-K”). These unaudited condensed consolidated financial statements include all normal and recurring adjustments considered necessary for a fair presentation of the financial position and results of operations and cash flows for interim periods in accordance with U.S. GAAP. A description of the Company’s significant accounting policies is included in Note 1 to the Notes to the Consolidated Financial Statements included in its 2022 Form 10-K. Except as noted below, there were no material changes in the Company’s significant accounting policies during the three and nine months ended September 30, 2023.
Property	Property The Company's significant property holdings are on the island of Maui and consist of approximately 3,900 1,500 Inventory of land held for sale is carried at the lower of cost or fair market value, less costs to sell, which is based on current and foreseeable market conditions, discussions with real estate brokers and review of historical land sale activity fair value hierarchy (Levels 2 and 3). Land is currently utilized for commercial specialty coffee farming operations which also support the Company's land development program, as well as farming bananas, citrus and other farm products and ranching operations. Additionally, miscellaneous parcels of land had been leased or licensed to third parties on a short term basis prior to the Lahaina Wildfire. Beginning on August 8, 2023, a wildfire occurred due east of historic Lahaina town in Maui. The fire spread rapidly due to extreme wind conditions caused in part by Hurricane Dora which traveled 800 miles offshore west of Maui. The fires caused multiple fatalities, widespread damage to Lahaina town and the surrounding area including the Company’s 19-acre Pioneer Mill site. The Company’s offices and coffee mill are located on the site as well as various other structures and a building which is leased to an unrelated third party and used to operate a coffee store. The Company also utilized portions of the property for short term license agreements with third parties that generates income for the Company. Although no employees were injured in the fire, the Company’s offices and coffee store building were destroyed. Additionally, it appears that most of the personal property of the licensees and the coffee mill was severely damaged if not destroyed. The widespread destruction is likely to cause disruptions in the Company’s development plans. The damage to the coffee mill has disrupted operations and will prevent the Company from processing and selling the current year coffee crop. It is also likely that the fires and devastation caused thereby will adversely affect the Maui economy and businesses operated on Maui. The Company continues to evaluate the extent of the damage to its property and equipment and has initiated claims with its insurance carriers. Access to the property remains restricted, and such restrictions are expected to continue for the near term. In October 2023, the Company received an initial, unallocated advance payment of $1,000 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. As a result of the fires, the Company performed an impairment evaluation of its asset groups to determine if provisions for impairment losses should be recognized. The Company concluded a provision for impairment should not be recognized for the current period. The Company will continue to monitor and evaluate the indicators for evidence of impairment in future periods. There can be no assurance that future impairment testing will not indicate that an impairment has occurred and that a provision for impairment will be required. While most of the personal property destroyed in the fire was fully depreciated the Company wrote off the net carrying value of destroyed equipment totaling approximately $400
Use of Estimates	Use of Estimates The preparation of financial statements in conformity with U.S. GAAP 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. Operating results for the nine months ended September 30, 2023 are not necessarily indicative of the results that may be achieved for the full year ending December 31, 2023 or in any other future periods.
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 September 30, 2023 is a money market fund for $27,650
Subsequent Events	Subsequent Events The Company has performed an evaluation of subsequent events from the date of the financial statements included in this quarterly report through the date of its filing with the Securities and Exchange Commission.
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 were as follows (in thousands): Three Months Ended September 30, Nine Months Ended September 30, 2023 2022 2023 2022 Sales of real estate $ 0 $ 0 $ 0 $ 4,750 Coffee and other sales 323 703 2,038 2,460 Total $ 323 $ 703 $ 2,038 $ 7,210 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 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 three and nine months ended September 30, 2023, the Company recognized $175 $760 $296 $834 $31 $80 $20 $54
Recently Issued Accounting Pronouncements	Recently Issued Accounting Pronouncements In December 2022, the FASB issued ASU No. 2022-06, “Reference Rate Reform (Topic 848): Deferral of the Sunset Date of Topic 848”. The amendments in this Update defer the sunset date of Topic848 from December 31, 2022, to December 31, 2024, after which entities will no longer be permitted to apply the relief in Topic 848. The amendments in this Update are effective for all entities upon issuance of this Update. 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.

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Tables)	9 Months Ended
	Sep. 30, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Schedule of Revenues Subject to Revenue Recognition Standards	Three Months Ended September 30, Nine Months Ended September 30, 2023 2022 2023 2022 Sales of real estate $ 0 $ 0 $ 0 $ 4,750 Coffee and other sales 323 703 2,038 2,460 Total $ 323 $ 703 $ 2,038 $ 7,210

Employee Benefit Plans and In_2

Employee Benefit Plans and Investments (Tables)	9 Months Ended
	Sep. 30, 2023
Retirement Benefits [Abstract]
Schedule of Components of Net Periodic Pension Benefit (Credit)	Three Months Ended September 30, Nine Months Ended September 30, 2023 2022 2023 2022 Service cost $ -- $ 100 $ -- $ 311 Interest cost -- 2 -- 4 Expected return on plan assets -- (61) -- (183) Recognized net actuarial loss -- (4) -- (13) Curtailment (gain) loss -- -- -- (12) Net periodic pension cost (credit) $ -- $ 37 $ -- $ 107

Calculation of Net Income (Lo_2

Calculation of Net Income (Loss) Per Share (Tables)	9 Months Ended
	Sep. 30, 2023
Earnings Per Share [Abstract]
Schedule of Computation of Net Loss Per Share - Basic and Diluted	Three Months Ended September 30, Nine Months Ended September 30, (Amounts in thousands, except per share amounts) 2023 2022 2023 2022 Numerator: Net income (loss) $ 280 $ (455) $ 3,669 $ 992 Less: Net loss attributable to non controlling interests -- -- -- (58) Net income (loss) attributable to stockholders $ 280 $ (455) $ 3,669 $ 1,050 Denominator: Number of weighted average share outstanding - basic and diluted 1,845 1,845 1,845 1,845 Net income (loss) per share, attributable to Kaanapali Land - basic and diluted $ 0.15 $ (0.25) $ 1.99 $ 0.57

Business Segment Information (T

Business Segment Information (Tables)	9 Months Ended
	Sep. 30, 2023
Segment Reporting [Abstract]
Schedule of Operating Income (Loss) by Segments	Three Months Ended September 30, Nine Months Ended September 30, 2023 2022 2023 2022 Revenues: Property $ 98 $ 95 $ 397 $ 4,982 Agriculture 931 990 2,995 3,384 Corporate 503 19 1,208 23 $ 1,532 $ 1,104 $ 4,600 $ 8,389 Operating income (loss): Property $ (414 $ (514 $ (1,175 $ 97 Agriculture 43 225 406 744 Operating income (loss) (371 (289 (769 841 Corporate (3,393 (326 1,585 520 Operating income (loss) before income taxes $ (3,764 $ (615 $ 816 $ 1,361

Schedule of Revenues Subject to

Schedule of Revenues Subject to Revenue Recognition Standards (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Sales of real estate	$ 0	$ 0	$ 0	$ 4,750
Coffee and other sales	323	703	2,038	2,460
Total	$ 323	$ 703	$ 2,038	$ 7,210

Summary of Significant Accoun_4

Summary of Significant Accounting Policies (Details Narrative) $ in Thousands	1 Months Ended	3 Months Ended		9 Months Ended
	Oct. 31, 2023 USD ($)	Sep. 30, 2023 USD ($) a	Sep. 30, 2022 USD ($)	Sep. 30, 2023 USD ($) a	Sep. 30, 2022 USD ($)
Subsequent Event [Line Items]
Area of significant property holdings on island of Maui | a		3,900		3,900
Area of property holdings in Maui classified as conservation land which precludes development | a		1,500		1,500
Impairment of equipment destroyed in Maui fire		$ 400
Money market fund		27,650		$ 27,650
Operating lease income		175	$ 296	760	$ 834
Operating lease expense		$ 31	$ 20	$ 80	$ 54
Subsequent Event [Member]
Subsequent Event [Line Items]
Unallocated advance insurance payment related to Lahaina Wildfire	$ 1,000

Land Development (Details Narra

Land Development (Details Narrative) $ in Thousands	1 Months Ended		3 Months Ended	9 Months Ended
	Mar. 31, 2022 USD ($)	Sep. 30, 2014 USD ($) a	Mar. 31, 2006 lots	Sep. 30, 2023 USD ($)
Real Estate [Line Items]
Number of agricultural lots held for sale | lots			51
Proceeds from sale of agricultural lot	$ 5,000	$ 3,300
Acres of land sold | a		14.9
Contract price for sewer line improvement project				$ 1,070
Amount paid by KLMC on sewer line project				972
Sewer line project commitment amount				$ 208
Interest rate of receivable per Purchase Agreement				6.50%
Maximum [Member]
Real Estate [Line Items]
Future funds committed by KLMC to improve parcel of land sold		$ 583

Mortgage Note Payable (Details

Mortgage Note Payable (Details Narrative) - Secured Debt [Member] - Affiliated Entity [Member] - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2023	Dec. 31, 2022
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	$ 90,467	$ 90,203
Debt instrument, interest rate	0.39%

Schedule of Components of Net P

Schedule of Components of Net Periodic Pension Benefit (Credit) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Retirement Benefits [Abstract]
Service cost		$ 100		$ 311
Interest cost		2		4
Expected return on plan assets		(61)		(183)
Recognized net actuarial loss		(4)		(13)
Curtailment (gain) loss				(12)
Net periodic pension cost   (credit)		$ 37		$ 107

Employee Benefit Plans and In_3

Employee Benefit Plans and Investments (Details Narrative) - USD ($) $ in Thousands	1 Months Ended		3 Months Ended		9 Months Ended
	Oct. 31, 2023	Oct. 31, 2022	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022	Sep. 15, 2023	Aug. 30, 2023	Dec. 31, 2022
Subsequent Event [Line Items]
Lump sum benefits paid to pension plan participants for settlement of all benefit Pension Plan liabilities		$ 420
Pension plan assets								$ 19,397	$ 19,115
Value of Pension Plan assets recently transferred and held in investment suspense account							$ 5,000
Remaining value of Pension Plan assets reverted to company							$ 14,500
Excise taxes paid			2,955		2,955
Deferred liability for nonqualified deferred compensation arrangement ("Rabbi Trust")			$ 329		$ 329
Subsequent Event [Member]
Subsequent Event [Line Items]
Excise taxes paid	$ 2,900

Transactions with Affiliates (D

Transactions with Affiliates (Details Narrative) - Affiliated Entity [Member] - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Related Party Transaction [Line Items]
Insurance commissions paid to related party	$ 0	$ 1	$ 23	$ 15
Selling, general and administrative expenses incurred during the period with related parties	296	$ 381	861	1,121
Amounts due to affiliates not yet paid	$ 234		$ 234
Revenue from farming and common area maintenance services and for providing non-potable water to the Kaanapali Coffee Farms Lot Owners Association ('LOA')				$ 616

Commitments and Contingencies (

Commitments and Contingencies (Details Narrative) - USD ($) $ in Thousands	1 Months Ended	3 Months Ended		9 Months Ended
	Jul. 31, 2021	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2014	Dec. 31, 2013
Gain Contingencies [Line Items]
Insurance Settlement Agreement, proposed escrow funding		$ 6,800		$ 6,800
Litigation settlement from Conset Decree	$ 7,500
Proposed settlement to be paid by Fireman's Fund		2,441		2,441
Crop insurance proceeds		$ 509		$ 509
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
Dc Distributions Bankruptcy [Member]
Gain Contingencies [Line Items]
Amount of claims filed						$ 26,800

Schedule of Computation of Net

Schedule of Computation of Net Loss Per Share - Basic and Diluted (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended				9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Jun. 30, 2022	Mar. 31, 2022	Sep. 30, 2023	Sep. 30, 2022
Numerator:
Net income (loss)	$ 280	$ (455)	$ (871)	$ 2,318	$ 3,669	$ 992
Less: Net loss attributable to non controlling interests						(58)
Net income (loss) attributable   to stockholders	$ 280	$ (455)			$ 3,669	$ 1,050
Denominator:
Number of weighted average share outstanding - basic	1,845	1,845			1,845	1,845
Number of weighted average share outstanding - diluted	1,845	1,845			1,845	1,845
Net income (loss) per share - diluted	$ 0.15	$ (0.25)			$ 1.99	$ 0.57
Net income (loss) per share - basic	$ 0.15	$ (0.25)			$ 1.99	$ 0.57

Schedule of Operating Income (L

Schedule of Operating Income (Loss) by Segments (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Revenues:
Revenues	$ 1,532	$ 1,104	$ 4,600	$ 8,389
Operating loss before income taxes	(3,764)	(615)	816	1,361
Property [Member]
Revenues:
Revenues	98	95	397	4,982
Operating loss before income taxes	(414)	(514)	(1,175)	97
Agriculture [Member]
Revenues:
Revenues	931	990	2,995	3,384
Operating loss before income taxes	43	225	406	744
Corporate Segment [Member]
Revenues:
Revenues	503	19	1,208	23
Operating loss before income taxes	(3,393)	(326)	1,585	520
Property And Agriculture [Member]
Revenues:
Operating loss before income taxes	$ (371)	$ (289)	$ (769)	$ 841

Subsequent Events (Details Narr

Subsequent Events (Details Narrative) $ in Thousands	1 Months Ended
	Oct. 31, 2023 USD ($)
Subsequent Event [Member]
Subsequent Event [Line Items]
Unallocated advance insurance payment related to Lahaina Wildfire	$ 1,000