Maui Land & Pineapple (MLP) 10-K 26 Feb 18 2017 FY Annual report Financial data

Document And Entity Information

Document And Entity Information - USD ($)	12 Months Ended
	Dec. 31, 2017	Feb. 16, 2018	Jun. 30, 2017
Document Information [Line Items]
Entity Registrant Name	MAUI LAND & PINEAPPLE CO INC
Entity Central Index Key	63,330
Trading Symbol	mlp
Current Fiscal Year End Date	--12-31
Entity Filer Category	Smaller Reporting Company
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Entity Well-known Seasoned Issuer	No
Entity Common Stock, Shares Outstanding (in shares)		19,103,582
Entity Public Float			$ 135,117,734
Document Type	10-K
Document Period End Date	Dec. 31, 2017
Document Fiscal Year Focus	2,017
Document Fiscal Period Focus	FY
Amendment Flag	false

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016
CURRENT ASSETS
Cash	$ 1,029	$ 602
Accounts receivable, less allowance of $40 and $57 for doubtful accounts	940	1,503
Prepaid expenses and other assets	159	190
Assets held for sale	212	459
Total Current Assets	2,340	2,754
PROPERTY
Land	5,059	5,059
Land improvements	24,727	18,051
Buildings	24,884	24,884
Machinery and equipment	10,980	10,965
Total Property	65,650	58,959
Less accumulated depreciation	34,971	33,215
Net Property	30,679	25,744
OTHER ASSETS
Deferred development costs	10,395	8,843
Other noncurrent assets	1,387	1,542
Total Other Assets	11,782	10,385
TOTAL ASSETS	44,801	38,883
CURRENT LIABILITIES
Accounts payable	696	569
Payroll and employee benefits	784	607
Current portion of accrued retirement benefits	164	175
Income taxes payable		443
Other current liabilities	203	604
Total Current Liabilities	1,847	2,398
LONG-TERM LIABILITIES
Long-term debt	1,235	6,857
Non-current portion of accrued retirement benefits	7,867	9,059
Deposits	2,449	2,378
Deferred revenue	215	409
Other noncurrent liabilities	44	40
Total Long-Term Liabilities	11,810	18,743
COMMITMENTS & CONTINGENCIES (Note 11)
STOCKHOLDERS' EQUITY
Common stock--no par value, 43,000,000 shares authorized; 19,040,273 and 18,958,018 shares issued and outstanding	78,584	78,123
Additional paid in capital	9,246	9,246
Accumulated deficit	(36,432)	(47,332)
Accumulated other comprehensive loss	(20,254)	(22,295)
Total Stockholders' Equity	31,144	17,742
TOTAL LIABILITIES & STOCKHOLDERS' EQUITY	$ 44,801	$ 38,883

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parentheticals) - USD ($) $ / shares in Thousands, $ in Thousands	Dec. 31, 2017	Dec. 31, 2016
Accounts receivable, allowance	$ 40	$ 57
Common stock, par value (in dollars per share)	$ 0	$ 0
Common stock, authorized (in shares)	43,000,000	43,000,000
Common stock, issued (in shares)	19,040,273	18,958,018
Common stock, outstanding (in shares)	19,040,273	18,958,018

Consolidated Statements of Inco

Consolidated Statements of Income and Comprehensive Income - USD ($)	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
OPERATING REVENUES
Sales	$ 13,681,000	$ 36,000,000
Commissions	894,000	1,116,000
Leasing	5,527,000	5,324,000
Utilities	3,153,000	3,345,000
Resort amenities and other	1,122,000	1,579,000
Total Operating Revenues	24,377,000	47,364,000
OPERATING COSTS AND EXPENSES
Cost of sales	579,000	6,188,000
Other	878,000	1,272,000
Leasing	2,444,000	2,971,000
Utilities	1,892,000	2,325,000
Resort amenities and other	1,033,000	947,000
General and administrative	2,515,000	2,204,000
Share-based compensation	1,319,000	984,000
Depreciation	1,756,000	1,984,000
Pension and other post-retirement expenses	871,000	5,019,000
Total Operating Costs and Expenses	13,287,000	23,894,000
OPERATING INCOME	11,090,000	23,470,000
Interest expense	(190,000)	(1,656,000)
NET INCOME	10,900,000	21,814,000
Pension, net of income taxes of $0	2,041,000	6,372,000
COMPREHENSIVE INCOME	$ 12,941,000	$ 28,186,000
NET INCOME PER COMMON SHARE --BASIC AND DILUTED (in dollars per share)	$ 0.57	$ 1.15

Consolidated Statements of Inc5

Consolidated Statements of Income and Comprehensive Income (Parentheticals) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Pension, taxes	$ 0	$ 0

Consolidated Statements of Stoc

Consolidated Statements of Stockholders' Equity (Deficiency) - USD ($) shares in Thousands, $ in Thousands	Common Stock [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]	AOCI Attributable to Parent [Member]	Total
Balance (in shares) at Dec. 31, 2015	18,868
Balance at Dec. 31, 2015	$ 77,628	$ 9,246	$ (69,146)	$ (28,667)	$ (10,939)
Share-based compensation expense		315			315
Issuance of shares for incentive plan (in shares)	99
Issuance of shares for incentive plan	$ 504				504
Vested restricted stock issued (in shares)	50
Vested restricted stock issued	$ 315	(315)
Shares cancelled to pay tax liability (in shares)	(59)
Shares cancelled to pay tax liability	$ (324)				(324)
Other comprehensive gain-pension (Note 6)				6,372	6,372
Net income			21,814		21,814
Balance (in shares) at Dec. 31, 2016	18,958
Balance at Dec. 31, 2016	$ 78,123	9,246	(47,332)	(22,295)	17,742
Share-based compensation expense		448			448
Issuance of shares for incentive plan (in shares)	94
Issuance of shares for incentive plan	$ 767				767
Vested restricted stock issued (in shares)	59
Vested restricted stock issued	$ 448	(448)
Shares cancelled to pay tax liability (in shares)	(71)
Shares cancelled to pay tax liability	$ (754)				(754)
Other comprehensive gain-pension (Note 6)				2,041	2,041
Net income			10,900		10,900
Balance (in shares) at Dec. 31, 2017	19,040
Balance at Dec. 31, 2017	$ 78,584	$ 9,246	$ (36,432)	$ (20,254)	$ 31,144

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
OPERATING ACTIVITIES
Cash receipts from customers and other receipts	$ 14,708	$ 14,866
Cash receipts from real estate sales, net	6,990	35,570
Cash paid to vendors	(11,427)	(13,089)
Cash paid for payroll and taxes	(1,410)	(1,221)
Cash paid for interest	(99)	(2,219)
Cash paid for income taxes	(412)	(30)
NET CASH PROVIDED BY OPERATING ACTIVITIES	8,350	33,877
INVESTING ACTIVITIES
Purchases of property		(268)
Payments for other assets	(1,521)	(63)
NET CASH USED IN INVESTING ACTIVITIES	(1,521)	(331)
FINANCING ACTIVITIES
Proceeds from long-term debt	300	27,500
Payments of long-term debt	(5,922)	(61,208)
Debt and common stock issuance costs and other	(780)	(323)
NET CASH USED IN FINANCING ACTIVITIES	(6,402)	(34,031)
NET INCREASE (DECREASE) IN CASH	427	(485)
CASH AT BEGINNING OF YEAR	602	1,087
CASH AT END OF YEAR	1,029	602
SUPPLEMENTAL INFORMATION:
Net income	10,900	21,814
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	1,937	2,990
Conveyance of improvements	(6,691)
Share based compensation	448	315
Loss on property disposals		12
Changes in operating assets and liabilities:
Accounts receivable	563	25
Change in retirement liabilities	838	4,976
Trade accounts payable	127	(106)
Income taxes payable	(443)	(30)
Other operating assets and liabilities	671	3,881
NET CASH PROVIDED BY OPERATING ACTIVITIES	$ 8,350	$ 33,877

Supplemental Non-cash Investing

Supplemental Non-cash Investing and Financing Activities	12 Months Ended
	Dec. 31, 2017
Notes to Financial Statements
Cash Flow, Supplemental Disclosures [Text Block]	SUPPLEMENTAL NON-CASH INVESTING AND FINANCING ACTIVITIES: • Common stock issued to certain members of the Company’s management totaled $767,000 $315,000 2017 2016,

Note 1 - Summary of Significant

Note 1 - Summary of Significant Accounting Policies	12 Months Ended
	Dec. 31, 2017
Notes to Financial Statements
Significant Accounting Policies [Text Block]	1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES CONSOLIDATION The financial statements include the accounts of Maui Land & Pineapple Company, Inc. and its principal subsidiary Kapalua Land Company, Ltd. and other subsidiaries (collectively, the “Company”). The Company’s principal operations include the development, sale and leasing of real estate, water and waste transmission services, and the management of a private club membership program at the Kapalua Resort. Significant intercompany balances and transactions have been eliminated. COMPREHENSIVE INCOME Comprehensive income includes all changes in stockholders’ equity, except those resulting from capital stock transactions. Comprehensive income includes adjustments to the Company’s defined benefit pension plan obligations. ALLOWANCE FOR DOUBTFUL ACCOUNTS Receivables are recorded net of an allowance for doubtful accounts. The Company estimates future write-offs based on delinquencies, credit ratings, aging trends, and historical experience. The Company believes the allowance for doubtful accounts is adequate to cover anticipated losses; however, significant deterioration in any of the aforementioned factors or in general economic conditions could change these expectations, and accordingly, the Company ’s financial condition and/or its future operating results could be materially impacted. Credit is extended after evaluating creditworthiness and no ASSETS HELD FOR SALE Assets are classified as held for sale when management approves and commits to a plan to sell the property; the property is available for immediate sale in its present condition, subject only to terms that are usual and customary; an active program to locate a buyer and other actions required to complete the plan to sell have been initiated; the sale of the property is probable and is expected to be completed within one DEFERRED DEVELOPMENT COSTS Deferred development costs consist primarily of design, entitlement and permitting fees and real estate development costs related to various planned projects. Deferred development costs are written off if management decides that it is no no 2017 2016. PROPERTY AND DEPRECIATION Property is stated at cost. Major replacements, renewals and betterments are capitalized while maintenance and repairs that do not three 40 years. LONG-LIVED ASSETS Long-lived assets are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not ’ net book values exceed their fair value. These asset impairment loss analyses require management to make assumptions and apply considerable judgments regarding, among others, estimates of the timing and amount of future cash flows, expected useful lives of the assets, uncertainty about future events, including changes in economic conditions, changes in operating performance, changes in the use of the assets, and ongoing cost of maintenance and improvements of the assets, and thus, the accounting estimates may no 2017 2016. ACCRUED RETIREMENT BENEFITS The Company ’s policy is to fund retirement benefit costs at a level at least equal to the minimum amount required under federal law, but not The under -funded status of the Company’s defined benefit pension plans is recorded as a liability in its balance sheet and changes in the funded status of the plans are recorded in the year in which the changes occur, through comprehensive income. A pension asset or liability is recognized for the difference between the fair value of plan assets and the projected benefit obligation as of year-end. Deferred compensation plans for certain former management employees provide for specified payments after retirement. A liability has been recognized based on the present value of estimated payments to be made. REVENUE RECOGNITION Overview Real estate revenues are recognized in the period in which sufficient cash has been received, collection of the balance is reasonably assured and risks of ownership have passed to the buyer. Sal es of real estate assets that are considered central to the Company’s ongoing major operations are classified as real estate sales revenue, along with any associated cost of sales, in the Company’s consolidated statements of income and comprehensive income. Sales of real estate assets that are considered peripheral or incidental transactions to the Company’s ongoing major or central operations are reflected as net gains or losses in the Company’s consolidated statements of income and comprehensive income. If the sale of a real estate asset represents a strategic shift that has, or will have, a major effect on the Company’s operations, such as the discontinuance of a business segment, then the operations of the property, including any interest expense directly attributable to it, are classified as discontinued operations, and amounts for all prior periods presented are reclassified from continuing operations to discontinued operations. The disposal of an individual property generally will not not Lease revenues are recognized on a straight-line basis over the terms of the leases. Also included in lease income are certain percentage rents determined in accordance with the terms of the leases. Lease income arising from tenant rents that are contingent upon the sales of the tenant exceeding a defined threshold are recognized only after the defined sales thresholds are achieved. Other revenues are recognized when delivery has occurred or services have been rendered, the sales price is fixed or determinable, and collectability is reasonably assured. Deferred revenues from annual dues received from the private club membership program at the Kapalua Resort are recognized on a straight-line basis over one Recent a ccounting p ronouncements – Lease Accounting In February 2016, Financial Accounting Standards Board (FASB) issued an Accounting Standards Update (ASU) that sets out the principles for the recognition, measurement, presentation, and disclosure of leases for both parties to a lease agreement (i.e., lessees and lessors). The ASU is effective for the Company no January 1, 2019, January 1, 2019. The lease ASU requires the use of the modified retrospective transition method and does not January 1, 2019 January 1, 2017 ( 2019 January 1, 2017, January 1, 2019. The FASB has also issued a proposed amendment to the lease ASU that would provide an entity an optional transition method to initially account for the impact of the adoption of the new lease ASU with a cumulative adjustment to retained earnings on January 1, 2019 ( January 1, 2017, January 1, 2019. may • An entity need not • An entity need not • An entity need not These three May 2017 not January 1, 2017 January 1, 2019, s the optional transition method. The FASB noted that the transition provisions generally enable entities to “run off” their existing leases for the remainder of the lease term, which would effectively eliminate the need to calculate a cumulative adjustment to the opening balance of retained earnings. The FASB has also clarified that the lease ASU will require an assessment of whether a land easement meets the definition of a lease under the new lease ASU. An entity with land easements that are not may Lessor accounting The Company recognized revenue from our lease agreements aggregating $5.5 December 31, 2017. Under current accounting standards, the Company recognizes rental revenue from its operating leases on a straight-line basis over the respective lease terms. The Company commences recognition of rental revenue at the date the property is ready for its intended use and the tenant takes possession of or controls the physical use of the property. Under current accounting standards, tenant recoveries related to payments of real estate taxes, insurance, utilities, repairs and maintenance, common area expenses, and other operating expenses are considered lease components. The Company recognize s these tenant recoveries as revenue when services are rendered in an amount equal to the related operating expenses incurred that are recoverable under the terms of the applicable lease. Under the lease ASU, each lease agreement will be evaluated to identify the lease components and nonlease components at lease inception. The total consideration in the lease agreement will be allocated to the lease and nonlease components based on their relative standalone selling prices. Lessors will continue to recognize the lease revenue component using an approach that is substantially equivalent to existing guidance for operating leases (straight-line basis). The Company ha s not Tenant recoveries that are categorized as lease components will generally be variable consideration with revenue recognized as the recoverable services are provided. Tenant recoveries that are categorized as nonlease components will be recognized at a point in time or over time based on the pattern of transfer of the underlying goods or services to the tenants. Costs to execute leases The new lease ASU will require that lessors and lessees capitalize, as initial direct costs, only those costs that are incurred due to the execution of a lease (e.g. commissions paid to leasing brokers). Under the new lease ASU, allocated payroll costs and other costs such as legal costs incurred as part of the leasing process prior to the execution of a lease will no December 31, 2017, not Lessee accounting Under the new lease ASU, lessees are required to apply a dual approach by classifying leases as either finance or operating leases based on the principle of whether the lease is effectively a financed purchase of the leased asset by the lessee. This classification will determine whether the lease expense is recognized based on an effective interest method or on a straight-line basis over the term of the lease, which corresponds to a similar evaluation performed by the lessor. In addition to this classification, a lessee is also required to recognize a right-of-use asset and a lease liability for all leases with a term of greater than 12 not 12 The ASU requires the recognition of a right-of-use asset and a related liability to account for the Company’s future obligations under the office and equipment lease arrangements for which the Company is the lessee. For the year ended December 31, 2017, $50,000 December 31, 2017, $34,000. Recent a ccounting p ronouncements – Revenue Recognition In May 2014, d with leases (described above). The Company’s revenues for the year ended December 31, 2017, Real estate Sales $ 13,681 Commissions 894 Utilities 3,153 Resort amenities and other 1,122 Total $ 18,850 The core principle underlying the revenue recognition ASU is that an entity will recognize revenue to represent the transfer of goods and services to customers in an amount that reflects the consideration to which the entity expects to be entitled in such exchange. This will require entities to identify contractual performance obligations and determine whether revenue should be recognized at a point in time or over time, based on when control of goods and services transfers to a customer. A customer is distinguished from a noncustomer by the nature of the goods or services that are transferred. Customers are provided with goods or services that are generated by a company ’s ordinary output activities, whereas noncustomers are provided with nonfinancial assets that are outside of a company’s ordinary output activities. This distinction may not The ASU will require the use of a new five five not satisfies the performance obligation. An entity will also be required to determine if it controls the goods or services prior to the transfer to the customer in order to determine if it should account for the arrangement as a principal or agent. Principal arrangements, where the entity controls the goods or services provided, will result in the recognition of the gross amount of consideration expected in the exchange. Agent arrangements, where the entity simply arranges but does not Upon adoption of the new lease ASU in 2019, may January 2018. may The revenue r ecognition ASU is effective on January 1, 2018. 2016 January 1, 2016. not 2018 January 1, 2018. 2018 may January 1, 2018, not January 1, 2018. The Company further elected to apply this new ASU only to contracts not January 1, 2018. revenues totaling $18.9 December 31, 2017. no not January 1, 2018. OPERATING COSTS AND EXPENSES Real estate, leasing, utilities, resort amenities, and general and administrative costs and expenses are reflected exclusive of depreciation and pension and other post-retirement expenses. INCOME TAXES The Company accounts for uncertain tax positions in accordance with the provisions of FASB Accounting Standards Codification (ASC) Topic 740. 8 The Company ’s provision for income taxes is calculated using the liability method. Deferred income taxes are provided for all temporary differences between the financial statement and income tax bases of assets and liabilities using tax rates enacted by law or regulation. A valuation allowance is established for deferred income tax assets if management believes that it is more likely than not not The Company recognizes accrued interest related to unrecognized tax benefits as interest expense and penalties in general and administrative expenses in its consolidated statements of income and comprehensive income and such amounts are included in income taxes payable on the Company’s consolidated balance sheets. The Tax Cuts and Jobs Act of 2017 December 22, 2017. 35% 21%, 118 , Income Tax Accounting Implications of the Tax Cuts and Jobs Act 740, 118 2017 118 8. SHARE -BASED COMPENSATION PLANS The Company accounts for share-based compensation, including grants of shares of common stock, as compensation expense over the service period (generally the vesting period) in the financial statements based on their fair values. The impact of forfeitures that may USE OF ESTIMATES The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America (GAAP) requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting periods. Future actual amounts could differ from these estimates. RISKS AND UNCERTAINTIES Factors that could adversely impact the Company ’s future operations or financial results include, but are not second NEW ACCOUNTING PRONOUNCEMENTS In March 2016, FASB issued ASU No. 2016 09, 2017 not In June 2016, No. 2016 13, December 15, 2019 No. 2016 13 In August 2016, No. 2016 15, December 15, 2017. No. 2016 15 In October 2016, No. 2016 16, December 15, 2017 No. 2016 16 In November 2016, No. 2016 18, December 15, 2017 No. 2016 18 In December 2016, No. 2016 20, 606, December 15, 2017 . The Company is in the process of assessing the impact of ASU No. 2016 19 In March 2017, No. 2017 07, to improve the presentation of the net periodic pension cost and net periodic postretirement benefit cost by requiring the reporting of the service cost component in the same line item or items as other compensation costs arising from services rendered by employees during the period. The other components of net benefit cost are required to be presented in the income statement separately from the service cost component and outside a subtotal of income from operations. This ASU will be effective for public business entities for annual periods beginning after December 15, 2017. No, 2017 07 In May 2017, No. 2017 09, opic 718 718. December 15, 2017, No, 2017 09 NET INCOME PER COMMON SHARE Basic net income per common share is computed by dividing net income by the weighted-average number of common shares outstanding. Diluted net income per common share is computed similar to basic net income per common share except that the denominator is increased to include the number of additional common shares that would have been outstanding if the dilutive potential common shares from share-based compensation arrangements had been issued. Potentially dilutive shares arise from non-qualified stock options to purchase common stock and non-vested restricted stock. The treasury stock method is applied to determine the number of potentially dilutive shares for non-vested restricted stock and stock options assuming that the shares of non-vested restricted stock are issued for an amount based on the grant date market price of the shares and that the outstanding stock options are exercised. Year Ended December 31, 2017 2016 Basic and diluted 18,995,274 18,923,622 Potentially dilutive 27,500 26,822

Note 2 - Assets Held for Sale a

Note 2 - Assets Held for Sale and Real Estate Operating Revenues	12 Months Ended
	Dec. 31, 2017
Notes to Financial Statements
Assets Held-for-Sale and Real Estate Sales Disclosure [Text Block]	2. ASSETS HELD FOR SALE AND REAL ESTATE SALES At December 31, 2017 2016 December 31 , 7 December 31, 6 (in thousands) Upcountry Maui, 630-acre parcel of agricultural land $ 156 $ 156 Upcountry Maui, 80-acre parcel of agricultural land and wastewater treatment facility 56 56 Kapalua Resort, 15-acre golf practice course - 247 Assets held for sale $ 212 $ 459 None ’s credit facility. In April 2017, $6.7 125 ’s Kapalua Mauka project. The owner purchased the 125 2009. In February 2017, 15 $7.0 $6.4 used $5.6 In December 2016, 3.4 26,000 $18.0 $12.9 In August 2016, five 42 $3.0 12 August 2021. $2.8 In June 2016, 304 $15.0 $14.3

Note 3 - Property

Note 3 - Property	12 Months Ended
	Dec. 31, 2017
Notes to Financial Statements
Property, Plant and Equipment Disclosure [Text Block]	3 . PROPERTY Land Most of the Company ’s 22,800 1911 1932 20,700 5,700 900 3,000 2,100 Land Improvements Land improvements are comprised primarily of roads, utilities, and landscaping infrastructure improvements at the Kapalua Resort. Also included is the Company ’s potable and non-potable water system in West Maui. The majority of the Company’s land improvements were constructed and placed in service in the mid-to-late 1970’s 2017. Buildings Buildings are comprised of restaurant, retail and light industrial spaces located at the Kapalua Resort and Hali ’imaile which are used in the Company’s leasing operations. The majority of the buildings were constructed and placed in service in the mid-to-late 1970’s. Machinery and Equipment Machinery and equipment are mainly comprised of zipline course equipment installed in 2008 ’s leasing operations. Also included are machinery and equipment used in the Company’s utilities operations.

Note 4 - Long-term Debt

Note 4 - Long-term Debt	12 Months Ended
	Dec. 31, 2017
Notes to Financial Statements
Debt Disclosure [Text Block]	4 . LONG-TERM DEBT Long-term debt is comprised of amounts outstanding under the Company ’s $15.0 December 31, 2019 two one 3.50%, 4.86% 4.37% December 31, 2017 2016, 800 30,000 no The terms of the Credit Facility include various representations, warranties, affirmative, negative and financial covenants and events of default customary for financings of this type. Financial covenants include a minimum liquidity (as defined) of $1.5 $45.0 The Company believes that it is in compliance with the covenants under the Credit Facility as of December 31, 2017.

Note 5 - Leasing Arrangements

Note 5 - Leasing Arrangements	12 Months Ended
	Dec. 31, 2017
Notes to Financial Statements
Leasing Arrangements Disclosure [Text Block]	5 . LEASING ARRANGEMENTS The Company leases land primarily to agriculture operators and space in commercial buildings, primarily to restaurant and retail tenants through 2034. 2017 2016 (in thousands) Minimum rentals $ 2,495 $ 2,458 Percentage rentals 1,255 1,172 Licensing fees 868 814 Other (primarily common area recoveries) 909 880 Total $ 5,527 $ 5,324 Property at December 31, 2017 2016 $29.4 $29.3 $16.3 $15.0 Future minimum rental income receivable during the next five (in thousands) 2018 $ 2,333 2019 2,294 2020 2,380 2021 2,018 2022 1,386 Thereafter 2,381

Note 6 - Accrued Retirement Ben

Note 6 - Accrued Retirement Benefits	12 Months Ended
	Dec. 31, 2017
Notes to Financial Statements
Pension and Other Postretirement Benefits Disclosure [Text Block]	6 . ACCRUED RETIREMENT BENEFITS Accrued Retirement Benefits at December 31, 2017 2016 2017 2016 (in thousands) Defined benefit pension plans $ 5,812 $ 7,560 Non-qualified retirement plans 2,219 1,674 Total 8,031 9,234 Less current portion (164 ) (175 ) Non-current portion of accrued retirement benefits $ 7,867 $ 9,059 The Company has two 2011, twelve 2009 During the fourth 2016, not one 500 325 one $9.3 of lump sum settlement payments were paid out of the trusts for the defined benefit pension plans.. In addition, approximately $0.8 one The measurement date for the Company ’s benefit plan disclosures is December 31 st 2017 2016, December 31, 2017 2016 2017 2016 (in thousands) Change in benefit obligations: Benefit obligations at beginning of year $ 56,378 $ 66,852 Interest cost 2,216 2,804 Actuarial loss (gain) 2,074 1,042 Benefits paid (4,216 ) (4,217 ) Lump sum payments - (10,103 ) Benefit obligations at end of year 56,452 56,378 Change in plan assets: Fair value of plan assets at beginning of year 47,176 56,434 Actual return on plan assets 5,531 5,188 Employer reimbursement for retirement benefits (230 ) (1,054 ) Employer contributions 181 928 Benefits paid (4,216 ) (4,217 ) Lump sum payments - (10,103 ) Fair value of plan assets at end of year 48,442 47,176 Funded status $ (8,010 ) $ (9,202 ) Accumulated benefit obligations $ 56,452 $ 56,378 Weighted average assumptions used to determine benefit obligations at December 31: Discount rate 3.59% - 3.64% 4.07% - 4.14% Expected long-term return on plan assets 5.00% 5.00% Rate of compensation increase n/a n/a A ccumulated other comprehensive loss of $20.2 $22.3 December 31, 2017 2016, not 2018, $0.7 Components of net periodic benefit cost and other amounts recognized in comprehensive income were as follows: 2017 2016 (in thousands) Pension and other benefits: Interest cost $ 2,216 $ 2,804 Expected return on plan assets (2,255 ) (2,713 ) Recognized net actuarial loss 840 1,030 Settlement/Curtailment Expense - 3,958 Pension expense $ 801 $ 5,079 Other changes in plan assets and benefit obligations recognized in comprehensive income: Net gain $ (1,201 ) $ (1,384 ) Recognized gain (840 ) (4,988 ) Total recognized gain in comprehensive income $ (2,041 ) $ (6,372 ) Weighted average assumptions used to determine net periodic benefit cost: 2017 2016 Pension benefits: Discount rate 4.07% - 4.14% 4.30% - 4.44% Expected long-term return on plan assets 5.00% 5.00% Rate of compensation increase n/a n/a The expected long-term rate of return on plan assets was based on a building-block approach. Historical markets are studied and long-term historical relationships between equities and fixed income are presumed consistent with the widely accepted capital market principle that assets with higher volatility generate a greater return over the long run. Current market factors, such as inflation and interest rates, are evaluated before long-term capital markets are determined. Diversification and rebalancing of plan assets are properly considered as part of establishing long-term portfolio returns. The fair values of the Company ’s pension plan assets at December 31, 2017 2016, 2017 Fair Value Measurements (in thousands) Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Total AHGT pooled equity funds $ - $ 14,772 $ 14,772 AHGT pooled fixed income funds - 32,581 32,581 Cash management funds - 1,089 1,089 $ - $ 48,442 $ 48,442 2016 Fair Value Measurements (in thousands) Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Total AHGT pooled equity funds $ - $ 7,177 $ 7,177 AHGT pooled fixed income funds - 39,025 39,025 Cash management funds - 974 974 $ - $ 47,176 $ 47,176 Aon Hewitt Group Trust (AHGT) p ooled equity and fixed income funds: 1 2 An administrative committee consisting of certain senior management employees administers the Company ’s defined benefit pension plans. The pension plan assets are allocated among approved asset types based on the plans current funded status and other characteristics set by the administrative committee, and subject to liquidity requirements of the plans. Estimated future benefit payments are as follows (in thousands): 2018 $ 4,225 2019 4,154 2020 4,077 2021 3,981 2022 3,865 2023 - 2027 17,680 T he Company does not 2018. No 2017 2016.

Note 7 - Share-based Compensati

Note 7 - Share-based Compensation	12 Months Ended
	Dec. 31, 2017
Notes to Financial Statements
Disclosure of Compensation Related Costs, Share-based Payments [Text Block]	7 . SHARE-BASED COMPENSATION The Company ’s directors, officers and certain members of management receive a portion of their compensation in shares of the Company’s common stock granted under the Company’s 2017 Share-based compensation is determined and awarded annually to the Company’s officers and certain members of management based on their achievement of certain predefined performance goals and objectives under the Equity Plan. Such share-based compensation is comprised of an annual incentive paid in shares of common stock and a long-term incentive paid in restricted shares vesting quarterly over a period of three Share-based compensation totaled $1,319,000 $984,000 2017 2016, $448,000 $315,000 2017 2016,

Note 8 - Income Taxes

Note 8 - Income Taxes	12 Months Ended
	Dec. 31, 2017
Notes to Financial Statements
Income Tax Disclosure [Text Block]	8 . INCOME TAXES GAAP prescribes a recognition threshold and measurement attribute for the financial statement recognition and measurement of a tax position taken or expected to be taken in a tax return. In December 2017, 2017 35% 21%, not 1 2 3 4 5 6 7 December 31, 2017; ( 8 9 10 Reconciliations between the total income tax benefit and the amount computed using the statutory federal rate of 35% December 31, 2017 2016 2017 2016 (in thousands) Federal income tax expense at statutory rate $ 3,815 $ 7,635 Adjusted for: Valuation allowance (3,814 ) (7,603 ) Permanent differences and other (1 ) (32 ) Income tax benefit - continuing operations $ - $ - Deferred tax assets were comprised of the following temporary differences as of December 31, 2017 2016: 2017 2016 (in thousands) Net operating loss and tax credit carryforwards $ 25,745 $ 38,915 Joint venture and other investments (22 ) 18 Accrued retirement benefits 2,483 3,924 Property net book value 1,716 2,801 Deferred revenue 546 953 Stock compensation 13 22 Reserves and other (115 ) 404 Total deferred tax assets 30,366 47,037 Valuation allowance (30,366 ) (47,037 ) Net deferred tax assets $ - $ - Valuation allowances have been established to reduce future tax benefits not deferred tax asset related to accrued retirement benefits and the valuation allowance includes the pension adjustment included in accumulated other comprehensive loss, which is not $83.3 December 31, 2017, 2029 2034. $97.4 December 31, 2017, 2029 2034. 2017, 2008 100% 2017. In accordance with SAB 118, during the year ended December 31, 2017, $12.1 35% 21%.

Note 9 - Segment Information

Note 9 - Segment Information	12 Months Ended
	Dec. 31, 2017
Notes to Financial Statements
Segment Reporting Disclosure [Text Block]	9 . SEGMENT INFORMATION The Company ’s presentation of its reportable operating segments is consistent with how the Company’s chief operating decision maker determines the allocation of resources. Reportable segments are as follows: • Real Estate includes the development and sale of real estate inventory and the operations of Kapalua Realty Company, a general brokerage real estate company located within the Kapalua Resort. • Leasing primarily includes revenues and expenses from real property leasing activities, license fees and royalties for the use of certain of the Company’s trademarks and brand names by third • Utilities primarily include the operations of Kapalua Water Company and Kapalua Waste Treatment Company, the Company’s water and sewage transmission services (regulated by the Hawaii Public Utilities Commission) for the Kapalua Resort. The operating segment also includes the management of ditch, reservoir and well systems that provide non-potable irrigation water to West and Upcountry Maui areas. • Resort Amenities include a membership program that provides certain benefits and privileges within the Kapalua Resort for its members. Condensed f inancial information for each of the Company’s reportable segments for the years ended December 31, 2017 2016 Real Resort Estate Leasing Utilities Amenities Other (2) Consolidated 2017 Operating revenues (1) $ 14,575 $ 5,527 $ 3,153 $ 1,121 $ 1 $ 24,377 Operating costs and expenses (1,457 ) (2,444 ) (1,892 ) (978 ) (55 ) (6,826 ) Depreciation expense - (1,207 ) (393 ) (52 ) (104 ) (1,756 ) General and administrative and other expenses (982 ) (742 ) (306 ) (531 ) (2,144 ) (4,705 ) Operating income (loss) 12,136 1,134 562 (440 ) (2,302 ) 11,090 Interest expense (190 ) Income from continuing operations $ 10,900 Capital expenditures (3) $ 1,457 $ - $ - $ - $ - $ 1,457 Assets (4) $ 13,261 $ 18,100 $ 2,932 $ 1,216 $ 9,292 $ 44,801 Real Resort Estate Leasing Utilities Amenities Other (2) Consolidated 2016 Operating revenues (1) $ 37,116 $ 5,324 $ 3,345 $ 1,487 $ 92 $ 47,364 Operating costs and expenses (7,460 ) (2,971 ) (2,325 ) (897 ) (50 ) (13,703 ) Depreciation expense - (1,524 ) (394 ) (66 ) (1,984 ) General and administrative and other expenses (829 ) (626 ) (271 ) (385 ) (6,096 ) (8,207 ) Operating income (loss) 28,827 203 355 205 (6,120 ) 23,470 Interest expense (1,656 ) Income from continuing operations $ 21,814 Capital expenditures (3) $ 123 $ - $ - $ - $ - $ 123 Assets (4) $ 11,634 $ 19,721 $ 3,604 $ 1,476 $ 2,448 $ 38,883 ( 1 Amounts are principally revenues from external customers and exclude equity in earnings of affiliates. Intersegment revenues were insignificant. ( 2 Consists primarily of miscellaneous transactions and unallocated general and administrative, and pension and other post-retirement expenses. ( 3 Primarily includes expenditures for property and deferred costs. ( 4 Segment assets are located in the United States.

Note 10 - Reserves

Note 10 - Reserves	12 Months Ended
	Dec. 31, 2017
Notes to Financial Statements
Schedule of Valuation and Qualifying Accounts Disclosure [Text Block]	1 0 . RESERVES Allowance for doubtful accounts for 2017 2016 Description Balance at Beginning of Year Increase Decrease Balance at End of Year (in thousands) Allowance for Doubtful Accounts 2017 $ 57 $ - $ (17 ) $ 40 2016 $ 319 $ 578 $ (840 ) $ 57

Note 11 - Commitments and Conti

Note 11 - Commitments and Contingencies	12 Months Ended
	Dec. 31, 2017
Notes to Financial Statements
Commitments and Contingencies Disclosure [Text Block]	1 1 . COMMITMENTS AND CONTINGENCIES The Company has been named along with multiple parties in lawsuits filed by owners of units and fractional interests in the project formerly known as The Ritz-Carlton Club and Residences, Kapalua Bay. The lawsuits were filed in the Circuit Court of the Second Circuit, State of Hawaii on May 23, 2011, June 7, 2012, June 19, 2013. no In addition to the matters noted above, there are various other claims and legal actions pending against the Company. In the opinion of management, after consultation with legal counsel, the resolution of these other matters is not

Note 12 - Fair Value Measuremen

Note 12 - Fair Value Measurements	12 Months Ended
	Dec. 31, 2017
Notes to Financial Statements
Fair Value, Measurement Inputs, Disclosure [Text Block]	12. FAIR VALUE MEASUREMENTS GAAP establishes a framework for measuring fair value, and requires certain disclosures about fair value measurements to enable the reader of the financial statements to assess the inputs used to develop those measurements by establishing a hierarchy for ranking the quality and reliability of the information used to determine fair values. GAAP requires that financial assets and liabilities be classified and disclosed in one three Level 1: Level 2: Level 3: not The Company considers all cash on hand to be unrestricted cash for the purposes of the consolidated balance sheets and consolidated statements of cash flows. The fair value of receivables and payables approximate their carrying value due to the short-term nature of the instruments. The valuation is based on settlements of similar financial instruments all of which are short-term in nature and are generally settled at or near cost. The fair value of debt was estimated based on borrowing rates currently available to the Company for debt with similar terms and maturities. The carrying amount of debt at December 31, 2017 2016 $1,235,000 $6,857,000, 2 6

Significant Accounting Policies

Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2017
Accounting Policies [Abstract]
Consolidation, Policy [Policy Text Block]	CONSOLIDATION The financial statements include the accounts of Maui Land & Pineapple Company, Inc. and its principal subsidiary Kapalua Land Company, Ltd. and other subsidiaries (collectively, the “Company”). The Company’s principal operations include the development, sale and leasing of real estate, water and waste transmission services, and the management of a private club membership program at the Kapalua Resort. Significant intercompany balances and transactions have been eliminated.
Comprehensive Income, Policy [Policy Text Block]	COMPREHENSIVE INCOME Comprehensive income includes all changes in stockholders’ equity, except those resulting from capital stock transactions. Comprehensive income includes adjustments to the Company’s defined benefit pension plan obligations.
Loans and Leases Receivable, Allowance for Loan Losses Policy [Policy Text Block]	ALLOWANCE FOR DOUBTFUL ACCOUNTS Receivables are recorded net of an allowance for doubtful accounts. The Company estimates future write-offs based on delinquencies, credit ratings, aging trends, and historical experience. The Company believes the allowance for doubtful accounts is adequate to cover anticipated losses; however, significant deterioration in any of the aforementioned factors or in general economic conditions could change these expectations, and accordingly, the Company ’s financial condition and/or its future operating results could be materially impacted. Credit is extended after evaluating creditworthiness and no
Real Estate Held for Development and Sale, Policy [Policy Text Block]	ASSETS HELD FOR SALE Assets are classified as held for sale when management approves and commits to a plan to sell the property; the property is available for immediate sale in its present condition, subject only to terms that are usual and customary; an active program to locate a buyer and other actions required to complete the plan to sell have been initiated; the sale of the property is probable and is expected to be completed within one
Deferred Charges, Policy [Policy Text Block]	DEFERRED DEVELOPMENT COSTS Deferred development costs consist primarily of design, entitlement and permitting fees and real estate development costs related to various planned projects. Deferred development costs are written off if management decides that it is no no 2017 2016.
Property, Plant and Equipment, Policy [Policy Text Block]	PROPERTY AND DEPRECIATION Property is stated at cost. Major replacements, renewals and betterments are capitalized while maintenance and repairs that do not three 40 years.
Impairment or Disposal of Long-Lived Assets, Policy [Policy Text Block]	LONG-LIVED ASSETS Long-lived assets are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not ’ net book values exceed their fair value. These asset impairment loss analyses require management to make assumptions and apply considerable judgments regarding, among others, estimates of the timing and amount of future cash flows, expected useful lives of the assets, uncertainty about future events, including changes in economic conditions, changes in operating performance, changes in the use of the assets, and ongoing cost of maintenance and improvements of the assets, and thus, the accounting estimates may no 2017 2016.
Pension and Other Postretirement Plans, Policy [Policy Text Block]	ACCRUED RETIREMENT BENEFITS The Company ’s policy is to fund retirement benefit costs at a level at least equal to the minimum amount required under federal law, but not The under -funded status of the Company’s defined benefit pension plans is recorded as a liability in its balance sheet and changes in the funded status of the plans are recorded in the year in which the changes occur, through comprehensive income. A pension asset or liability is recognized for the difference between the fair value of plan assets and the projected benefit obligation as of year-end. Deferred compensation plans for certain former management employees provide for specified payments after retirement. A liability has been recognized based on the present value of estimated payments to be made.
Revenue Recognition, Policy [Policy Text Block]	REVENUE RECOGNITION Overview Real estate revenues are recognized in the period in which sufficient cash has been received, collection of the balance is reasonably assured and risks of ownership have passed to the buyer. Sal es of real estate assets that are considered central to the Company’s ongoing major operations are classified as real estate sales revenue, along with any associated cost of sales, in the Company’s consolidated statements of income and comprehensive income. Sales of real estate assets that are considered peripheral or incidental transactions to the Company’s ongoing major or central operations are reflected as net gains or losses in the Company’s consolidated statements of income and comprehensive income. If the sale of a real estate asset represents a strategic shift that has, or will have, a major effect on the Company’s operations, such as the discontinuance of a business segment, then the operations of the property, including any interest expense directly attributable to it, are classified as discontinued operations, and amounts for all prior periods presented are reclassified from continuing operations to discontinued operations. The disposal of an individual property generally will not not Lease revenues are recognized on a straight-line basis over the terms of the leases. Also included in lease income are certain percentage rents determined in accordance with the terms of the leases. Lease income arising from tenant rents that are contingent upon the sales of the tenant exceeding a defined threshold are recognized only after the defined sales thresholds are achieved. Other revenues are recognized when delivery has occurred or services have been rendered, the sales price is fixed or determinable, and collectability is reasonably assured. Deferred revenues from annual dues received from the private club membership program at the Kapalua Resort are recognized on a straight-line basis over one Recent a ccounting p ronouncements – Lease Accounting In February 2016, Financial Accounting Standards Board (FASB) issued an Accounting Standards Update (ASU) that sets out the principles for the recognition, measurement, presentation, and disclosure of leases for both parties to a lease agreement (i.e., lessees and lessors). The ASU is effective for the Company no January 1, 2019, January 1, 2019. The lease ASU requires the use of the modified retrospective transition method and does not January 1, 2019 January 1, 2017 ( 2019 January 1, 2017, January 1, 2019. The FASB has also issued a proposed amendment to the lease ASU that would provide an entity an optional transition method to initially account for the impact of the adoption of the new lease ASU with a cumulative adjustment to retained earnings on January 1, 2019 ( January 1, 2017, January 1, 2019. may • An entity need not • An entity need not • An entity need not These three May 2017 not January 1, 2017 January 1, 2019, s the optional transition method. The FASB noted that the transition provisions generally enable entities to “run off” their existing leases for the remainder of the lease term, which would effectively eliminate the need to calculate a cumulative adjustment to the opening balance of retained earnings. The FASB has also clarified that the lease ASU will require an assessment of whether a land easement meets the definition of a lease under the new lease ASU. An entity with land easements that are not may Lessor accounting The Company recognized revenue from our lease agreements aggregating $5.5 December 31, 2017. Under current accounting standards, the Company recognizes rental revenue from its operating leases on a straight-line basis over the respective lease terms. The Company commences recognition of rental revenue at the date the property is ready for its intended use and the tenant takes possession of or controls the physical use of the property. Under current accounting standards, tenant recoveries related to payments of real estate taxes, insurance, utilities, repairs and maintenance, common area expenses, and other operating expenses are considered lease components. The Company recognize s these tenant recoveries as revenue when services are rendered in an amount equal to the related operating expenses incurred that are recoverable under the terms of the applicable lease. Under the lease ASU, each lease agreement will be evaluated to identify the lease components and nonlease components at lease inception. The total consideration in the lease agreement will be allocated to the lease and nonlease components based on their relative standalone selling prices. Lessors will continue to recognize the lease revenue component using an approach that is substantially equivalent to existing guidance for operating leases (straight-line basis). The Company ha s not Tenant recoveries that are categorized as lease components will generally be variable consideration with revenue recognized as the recoverable services are provided. Tenant recoveries that are categorized as nonlease components will be recognized at a point in time or over time based on the pattern of transfer of the underlying goods or services to the tenants. Costs to execute leases The new lease ASU will require that lessors and lessees capitalize, as initial direct costs, only those costs that are incurred due to the execution of a lease (e.g. commissions paid to leasing brokers). Under the new lease ASU, allocated payroll costs and other costs such as legal costs incurred as part of the leasing process prior to the execution of a lease will no December 31, 2017, not Lessee accounting Under the new lease ASU, lessees are required to apply a dual approach by classifying leases as either finance or operating leases based on the principle of whether the lease is effectively a financed purchase of the leased asset by the lessee. This classification will determine whether the lease expense is recognized based on an effective interest method or on a straight-line basis over the term of the lease, which corresponds to a similar evaluation performed by the lessor. In addition to this classification, a lessee is also required to recognize a right-of-use asset and a lease liability for all leases with a term of greater than 12 not 12 The ASU requires the recognition of a right-of-use asset and a related liability to account for the Company’s future obligations under the office and equipment lease arrangements for which the Company is the lessee. For the year ended December 31, 2017, $50,000 December 31, 2017, $34,000. Recent a ccounting p ronouncements – Revenue Recognition In May 2014, d with leases (described above). The Company’s revenues for the year ended December 31, 2017, Real estate Sales $ 13,681 Commissions 894 Utilities 3,153 Resort amenities and other 1,122 Total $ 18,850 The core principle underlying the revenue recognition ASU is that an entity will recognize revenue to represent the transfer of goods and services to customers in an amount that reflects the consideration to which the entity expects to be entitled in such exchange. This will require entities to identify contractual performance obligations and determine whether revenue should be recognized at a point in time or over time, based on when control of goods and services transfers to a customer. A customer is distinguished from a noncustomer by the nature of the goods or services that are transferred. Customers are provided with goods or services that are generated by a company ’s ordinary output activities, whereas noncustomers are provided with nonfinancial assets that are outside of a company’s ordinary output activities. This distinction may not The ASU will require the use of a new five five not satisfies the performance obligation. An entity will also be required to determine if it controls the goods or services prior to the transfer to the customer in order to determine if it should account for the arrangement as a principal or agent. Principal arrangements, where the entity controls the goods or services provided, will result in the recognition of the gross amount of consideration expected in the exchange. Agent arrangements, where the entity simply arranges but does not Upon adoption of the new lease ASU in 2019, may January 2018. may The revenue r ecognition ASU is effective on January 1, 2018. 2016 January 1, 2016. not 2018 January 1, 2018. 2018 may January 1, 2018, not January 1, 2018. The Company further elected to apply this new ASU only to contracts not January 1, 2018. revenues totaling $18.9 December 31, 2017. no not January 1, 2018.
Operating Costs And Expenses [Policy Text Block]	OPERATING COSTS AND EXPENSES Real estate, leasing, utilities, resort amenities, and general and administrative costs and expenses are reflected exclusive of depreciation and pension and other post-retirement expenses.
Income Tax, Policy [Policy Text Block]	INCOME TAXES The Company accounts for uncertain tax positions in accordance with the provisions of FASB Accounting Standards Codification (ASC) Topic 740. 8 The Company ’s provision for income taxes is calculated using the liability method. Deferred income taxes are provided for all temporary differences between the financial statement and income tax bases of assets and liabilities using tax rates enacted by law or regulation. A valuation allowance is established for deferred income tax assets if management believes that it is more likely than not not The Company recognizes accrued interest related to unrecognized tax benefits as interest expense and penalties in general and administrative expenses in its consolidated statements of income and comprehensive income and such amounts are included in income taxes payable on the Company’s consolidated balance sheets. The Tax Cuts and Jobs Act of 2017 December 22, 2017. 35% 21%, 118 , Income Tax Accounting Implications of the Tax Cuts and Jobs Act 740, 118 2017 118 8.
Share-based Compensation, Option and Incentive Plans Policy [Policy Text Block]	SHARE -BASED COMPENSATION PLANS The Company accounts for share-based compensation, including grants of shares of common stock, as compensation expense over the service period (generally the vesting period) in the financial statements based on their fair values. The impact of forfeitures that may
Use of Estimates, Policy [Policy Text Block]	USE OF ESTIMATES The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America (GAAP) requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting periods. Future actual amounts could differ from these estimates.
Risks And Uncertainties [Policy Text Block]	RISKS AND UNCERTAINTIES Factors that could adversely impact the Company ’s future operations or financial results include, but are not second
New Accounting Pronouncements, Policy [Policy Text Block]	NEW ACCOUNTING PRONOUNCEMENTS In March 2016, FASB issued ASU No. 2016 09, 2017 not In June 2016, No. 2016 13, December 15, 2019 No. 2016 13 In August 2016, No. 2016 15, December 15, 2017. No. 2016 15 In October 2016, No. 2016 16, December 15, 2017 No. 2016 16 In November 2016, No. 2016 18, December 15, 2017 No. 2016 18 In December 2016, No. 2016 20, 606, December 15, 2017 . The Company is in the process of assessing the impact of ASU No. 2016 19 In March 2017, No. 2017 07, to improve the presentation of the net periodic pension cost and net periodic postretirement benefit cost by requiring the reporting of the service cost component in the same line item or items as other compensation costs arising from services rendered by employees during the period. The other components of net benefit cost are required to be presented in the income statement separately from the service cost component and outside a subtotal of income from operations. This ASU will be effective for public business entities for annual periods beginning after December 15, 2017. No, 2017 07 In May 2017, No. 2017 09, opic 718 718. December 15, 2017, No, 2017 09
Earnings Per Share, Policy [Policy Text Block]	NET INCOME PER COMMON SHARE Basic net income per common share is computed by dividing net income by the weighted-average number of common shares outstanding. Diluted net income per common share is computed similar to basic net income per common share except that the denominator is increased to include the number of additional common shares that would have been outstanding if the dilutive potential common shares from share-based compensation arrangements had been issued. Potentially dilutive shares arise from non-qualified stock options to purchase common stock and non-vested restricted stock. The treasury stock method is applied to determine the number of potentially dilutive shares for non-vested restricted stock and stock options assuming that the shares of non-vested restricted stock are issued for an amount based on the grant date market price of the shares and that the outstanding stock options are exercised. Year Ended December 31, 2017 2016 Basic and diluted 18,995,274 18,923,622 Potentially dilutive 27,500 26,822

Note 1 - Summary of Significa22

Note 1 - Summary of Significant Accounting Policies (Tables)	12 Months Ended
	Dec. 31, 2017
Notes Tables
Disaggregation of Revenue [Table Text Block]	Real estate Sales $ 13,681 Commissions 894 Utilities 3,153 Resort amenities and other 1,122 Total $ 18,850
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share [Table Text Block]	Year Ended December 31, 2017 2016 Basic and diluted 18,995,274 18,923,622 Potentially dilutive 27,500 26,822

Note 2 - Assets Held for Sale23

Note 2 - Assets Held for Sale and Real Estate Operating Revenues (Tables)	12 Months Ended
	Dec. 31, 2017
Notes Tables
Disclosure of Long Lived Assets Held-for-sale [Table Text Block]	December 31 , 7 December 31, 6 (in thousands) Upcountry Maui, 630-acre parcel of agricultural land $ 156 $ 156 Upcountry Maui, 80-acre parcel of agricultural land and wastewater treatment facility 56 56 Kapalua Resort, 15-acre golf practice course - 247 Assets held for sale $ 212 $ 459

Note 5 - Leasing Arrangements (

Note 5 - Leasing Arrangements (Tables)	12 Months Ended
	Dec. 31, 2017
Notes Tables
Schedule Of Operating Leases Income Statement Lease Revenue [Table Text Block]	2017 2016 (in thousands) Minimum rentals $ 2,495 $ 2,458 Percentage rentals 1,255 1,172 Licensing fees 868 814 Other (primarily common area recoveries) 909 880 Total $ 5,527 $ 5,324
Schedule of Future Minimum Rental Income from Operating Leases [Table Text Block]	(in thousands) 2018 $ 2,333 2019 2,294 2020 2,380 2021 2,018 2022 1,386 Thereafter 2,381

Note 6 - Accrued Retirement B25

Note 6 - Accrued Retirement Benefits (Tables)	12 Months Ended
	Dec. 31, 2017
Notes Tables
Schedule of Defined Benefit Plans Disclosures [Table Text Block]	2017 2016 (in thousands) Defined benefit pension plans $ 5,812 $ 7,560 Non-qualified retirement plans 2,219 1,674 Total 8,031 9,234 Less current portion (164 ) (175 ) Non-current portion of accrued retirement benefits $ 7,867 $ 9,059
Changes in Projected Benefit Obligations, Fair Value of Plan Assets, and Funded Status of Plan [Table Text Block]	2017 2016 (in thousands) Change in benefit obligations: Benefit obligations at beginning of year $ 56,378 $ 66,852 Interest cost 2,216 2,804 Actuarial loss (gain) 2,074 1,042 Benefits paid (4,216 ) (4,217 ) Lump sum payments - (10,103 ) Benefit obligations at end of year 56,452 56,378 Change in plan assets: Fair value of plan assets at beginning of year 47,176 56,434 Actual return on plan assets 5,531 5,188 Employer reimbursement for retirement benefits (230 ) (1,054 ) Employer contributions 181 928 Benefits paid (4,216 ) (4,217 ) Lump sum payments - (10,103 ) Fair value of plan assets at end of year 48,442 47,176 Funded status $ (8,010 ) $ (9,202 ) Accumulated benefit obligations $ 56,452 $ 56,378 Weighted average assumptions used to determine benefit obligations at December 31: Discount rate 3.59% - 3.64% 4.07% - 4.14% Expected long-term return on plan assets 5.00% 5.00% Rate of compensation increase n/a n/a
Schedule of Net Benefit Costs [Table Text Block]	2017 2016 (in thousands) Pension and other benefits: Interest cost $ 2,216 $ 2,804 Expected return on plan assets (2,255 ) (2,713 ) Recognized net actuarial loss 840 1,030 Settlement/Curtailment Expense - 3,958 Pension expense $ 801 $ 5,079 Other changes in plan assets and benefit obligations recognized in comprehensive income: Net gain $ (1,201 ) $ (1,384 ) Recognized gain (840 ) (4,988 ) Total recognized gain in comprehensive income $ (2,041 ) $ (6,372 )
Schedule of Assumptions Used [Table Text Block]	Weighted average assumptions used to determine net periodic benefit cost: 2017 2016 Pension benefits: Discount rate 4.07% - 4.14% 4.30% - 4.44% Expected long-term return on plan assets 5.00% 5.00% Rate of compensation increase n/a n/a
Fair Value, Assets Measured on Recurring Basis [Table Text Block]	2017 Fair Value Measurements (in thousands) Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Total AHGT pooled equity funds $ - $ 14,772 $ 14,772 AHGT pooled fixed income funds - 32,581 32,581 Cash management funds - 1,089 1,089 $ - $ 48,442 $ 48,442 2016 Fair Value Measurements (in thousands) Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Total AHGT pooled equity funds $ - $ 7,177 $ 7,177 AHGT pooled fixed income funds - 39,025 39,025 Cash management funds - 974 974 $ - $ 47,176 $ 47,176
Schedule of Expected Benefit Payments [Table Text Block]	2018 $ 4,225 2019 4,154 2020 4,077 2021 3,981 2022 3,865 2023 - 2027 17,680

Note 8 - Income Taxes (Tables)

Note 8 - Income Taxes (Tables)	12 Months Ended
	Dec. 31, 2017
Notes Tables
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block]	2017 2016 (in thousands) Federal income tax expense at statutory rate $ 3,815 $ 7,635 Adjusted for: Valuation allowance (3,814 ) (7,603 ) Permanent differences and other (1 ) (32 ) Income tax benefit - continuing operations $ - $ -
Schedule of Deferred Tax Assets and Liabilities [Table Text Block]	2017 2016 (in thousands) Net operating loss and tax credit carryforwards $ 25,745 $ 38,915 Joint venture and other investments (22 ) 18 Accrued retirement benefits 2,483 3,924 Property net book value 1,716 2,801 Deferred revenue 546 953 Stock compensation 13 22 Reserves and other (115 ) 404 Total deferred tax assets 30,366 47,037 Valuation allowance (30,366 ) (47,037 ) Net deferred tax assets $ - $ -

Note 9 - Segment Information (T

Note 9 - Segment Information (Tables)	12 Months Ended
	Dec. 31, 2017
Notes Tables
Schedule of Segment Reporting Information, by Segment [Table Text Block]	Real Resort Estate Leasing Utilities Amenities Other (2) Consolidated 2017 Operating revenues (1) $ 14,575 $ 5,527 $ 3,153 $ 1,121 $ 1 $ 24,377 Operating costs and expenses (1,457 ) (2,444 ) (1,892 ) (978 ) (55 ) (6,826 ) Depreciation expense - (1,207 ) (393 ) (52 ) (104 ) (1,756 ) General and administrative and other expenses (982 ) (742 ) (306 ) (531 ) (2,144 ) (4,705 ) Operating income (loss) 12,136 1,134 562 (440 ) (2,302 ) 11,090 Interest expense (190 ) Income from continuing operations $ 10,900 Capital expenditures (3) $ 1,457 $ - $ - $ - $ - $ 1,457 Assets (4) $ 13,261 $ 18,100 $ 2,932 $ 1,216 $ 9,292 $ 44,801 Real Resort Estate Leasing Utilities Amenities Other (2) Consolidated 2016 Operating revenues (1) $ 37,116 $ 5,324 $ 3,345 $ 1,487 $ 92 $ 47,364 Operating costs and expenses (7,460 ) (2,971 ) (2,325 ) (897 ) (50 ) (13,703 ) Depreciation expense - (1,524 ) (394 ) (66 ) (1,984 ) General and administrative and other expenses (829 ) (626 ) (271 ) (385 ) (6,096 ) (8,207 ) Operating income (loss) 28,827 203 355 205 (6,120 ) 23,470 Interest expense (1,656 ) Income from continuing operations $ 21,814 Capital expenditures (3) $ 123 $ - $ - $ - $ - $ 123 Assets (4) $ 11,634 $ 19,721 $ 3,604 $ 1,476 $ 2,448 $ 38,883

Note 10 - Reserves (Tables)

Note 10 - Reserves (Tables)	12 Months Ended
	Dec. 31, 2017
Notes Tables
Summary of Valuation Allowance [Table Text Block]	Description Balance at Beginning of Year Increase Decrease Balance at End of Year (in thousands) Allowance for Doubtful Accounts 2017 $ 57 $ - $ (17 ) $ 40 2016 $ 319 $ 578 $ (840 ) $ 57

Supplemental Non-cash Investi29

Supplemental Non-cash Investing and Financing Activities (Details Textual) - USD ($)	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Stock Issued	$ 767,000	$ 315,000

Note 1 - Summary of Significa30

Note 1 - Summary of Significant Accounting Policies (Details Textual) - USD ($)	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Impairment of Deferred Development Costs		$ 0	$ 0
Asset Impairment Charges		0	0
Operating Leases, Income Statement, Lease Revenue		5,527,000	$ 5,324,000
Operating Leases, Rent Expense, Net		50,000
Operating Leases, Future Minimum Payments Due		34,000
Revenue from Contract with Customer, Excluding Assessed Tax		$ 18,900,000
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent		35.00%	35.00%
Scenario, Forecast [Member]
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent	21.00%
Minimum [Member]
Property, Plant and Equipment, Useful Life		3 years
Maximum [Member]
Property, Plant and Equipment, Useful Life		40 years

Note 1 - Summary of Significa31

Note 1 - Summary of Significant Accounting Policies - Revenue Recognition (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Sales	$ 13,681	$ 36,000
Commissions	894	1,116
Utilities	3,153	3,345
Resort amenities and other	1,122	$ 1,579
Total	$ 18,850

Note 1 - Summary of Significa32

Note 1 - Summary of Significant Accounting Policies - Antidilutive Securities (Details) - shares	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Basic and diluted (in shares)	18,995,274	18,923,622
Potentially dilutive (in shares)	27,500	26,822

Note 2 - Assets Held for Sale33

Note 2 - Assets Held for Sale and Real Estate Operating Revenues (Details Textual) $ in Thousands	1 Months Ended				12 Months Ended
	Apr. 30, 2017USD ($)a	Feb. 28, 2017USD ($)a	Aug. 31, 2016USD ($)a	Jun. 30, 2016USD ($)a	Dec. 31, 2017USD ($)	Dec. 31, 2016USD ($)ft²	Dec. 31, 2016a
Proceeds from Sale of Real Estate					$ 6,990	$ 35,570
Repayments of Lines of Credit		$ 5,600
Sales of Real Estate					$ 13,681	$ 36,000
Kapalua Mauka [Member]
Real Estate, Developer Contributions	$ 6,700
Area of Real Estate Property | a	125
Kapalua Golf Academy [Member]
Area of Real Estate Property | a		15
Proceeds from Sale of Real Estate		$ 7,000
Gain (Loss) on Sale of Properties		$ 6,400
Kapalua Village Center [Member] | West Maui [Member]
Area of Real Estate Property						26,000	3.4
Gain (Loss) on Sale of Properties						$ 12,900
Sales of Real Estate						$ 18,000
5-Acre Fully Entitled, 42-Unit Workforce Housing Project [Member] | West Maui [Member]
Area of Real Estate Property | a			5
Gain (Loss) on Sale of Properties			$ 2,800
Sales of Real Estate			$ 3,000
Number of Units in Real Estate Property			42
Residential Workforce Housing Credits			12
Working-class Community Project [Member] | West Maui [Member]
Gain (Loss) on Sale of Properties				$ 14,300
Sales of Real Estate				$ 15,000
Sales of Real Estate, Area of Property Sold | a				304

Note 2 - Assets Held for Sale34

Note 2 - Assets Held for Sale and Real Estate - Assets Held for Sale (Details) - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016
Assets held for sale	$ 212	$ 459
630-Acre Parcel Of Agricultural Land [Member] | Upcountry Maui [Member]
Assets held for sale	156	156
Agricultural Land and Wastewater Treatment Facility [Member] | Upcountry Maui [Member]
Assets held for sale	$ 56	56
Kapalua Resort, Golf Practice Course [Member] | Kapalua Resort [Member]
Assets held for sale		$ 247

Note 2 - Assets Held for Sale35

Note 2 - Assets Held for Sale and Real Estate - Assets Held for Sale (Details) (Parentheticals) - a	Dec. 31, 2017	Dec. 31, 2016
630-Acre Parcel Of Agricultural Land [Member]
Area of real estate (Acre)	630	630
Agricultural Land and Wastewater Treatment Facility [Member] | Upcountry Maui [Member]
Area of real estate (Acre)	80	80
Kapalua Resort, Golf Practice Course [Member] | Kapalua Resort [Member]
Area of real estate (Acre)		15

Note 3 - Property (Details Text

Note 3 - Property (Details Textual) - Land [Member]	12 Months Ended
	Dec. 31, 2017ft²a
Area of Land	22,800
West Maui [Member]
Area of Land	20,700
Area of Elevation from Sea | ft²	5,700
West Maui [Member] | Kapalua Resort [Member]
Area of Land	3,000
Area of Land Designated	900
Upcountry Maui [Member]
Area of Land	2,100

Note 4 - Long-term Debt (Detail

Note 4 - Long-term Debt (Details Textual) - First Hawaiian Bank Revolving Line of Credit [Member] - Revolving Credit Facility [Member] $ in Thousands	12 Months Ended
	Dec. 31, 2017USD ($)ft²a
Line of Credit Facility, Maximum Borrowing Capacity	$ 15,000
Number of Optional Extension Periods	2
Line of Credit Facility, Extension Period	1 year
Line of Credit Facility, Commitment Fee Amount	$ 0
Debt Instrument, Covenant, Required Minimum Liquidity	1,500
Debt Instrument, Covenant, Maximum Total Liabilities	$ 45,000
Kapalua Mauka [Member]
Pledged Assets not Separately Reported, Area of Real Estate | a	800
Kapalua Resort [Member]
Pledged Assets not Separately Reported, Area of Real Estate | ft²	30,000
Minimum [Member]
Debt Instrument, Interest Rate, Effective Percentage	4.86%
Maximum [Member]
Debt Instrument, Interest Rate, Effective Percentage	4.37%
London Interbank Offered Rate (LIBOR) [Member]
Debt Instrument, Basis Spread on Variable Rate	3.50%

Note 5 - Leasing Arrangements38

Note 5 - Leasing Arrangements (Details Textual) - USD ($) $ in Millions	Dec. 31, 2017	Dec. 31, 2016
Property Subject to or Available for Operating Lease, Gross	$ 29.4	$ 29.3
Property Subject to or Available for Operating Lease, Accumulated Depreciation	$ 16.3	$ 15

Note 5 - Leasing Arrangements -

Note 5 - Leasing Arrangements - Rental Income under Operating Leases (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Minimum rentals	$ 2,495	$ 2,458
Percentage rentals	1,255	1,172
Licensing fees	868	814
Other (primarily common area recoveries)	909	880
Total	$ 5,527	$ 5,324

Note 5 - Leasing Arrangements40

Note 5 - Leasing Arrangements - Future Minimum Rental Income Receivable (Details) $ in Thousands	Dec. 31, 2017USD ($)
2,018	$ 2,333
2,019	2,294
2,020	2,380
2,021	2,018
2,022	1,386
Thereafter	$ 2,381

Note 6 - Accrued Retirement B41

Note 6 - Accrued Retirement Benefits (Details Textual) $ in Thousands	3 Months Ended	12 Months Ended
	Dec. 31, 2016USD ($)	Dec. 31, 2017USD ($)	Dec. 31, 2016USD ($)
Defined Benefit Plan, Number of Participants Offered a One-time Lump Sum Payment	500
Defined Benefit Plan, Number of Participants Who Accepted a One-time Lump Sum Payment	325
Defined Benefit Plan, Benefit Obligation, Payment for Settlement			$ 10,103
Accumulated Other Comprehensive Income (Loss), Defined Benefit Plan, Gain (Loss), after Tax	$ (22,300)	(20,200)	(22,300)
Defined Benefit Plan, Expected Amortization of Gain (Loss), Next Fiscal Year		700
Defined Benefit Plan, Expected Future Employer Contributions, Next Fiscal Year		0
Defined Benefit Plan, Expected Future Employer Contributions, Current Fiscal Year	0	$ 0	$ 0
Pension Plan [Member] | Qualified Plan [Member]
Defined Benefit Plan, Benefit Obligation, Payment for Settlement	9,300
Supplemental Employee Retirement Plan [Member] | Nonqualified Plan [Member]
Defined Benefit Plan, Benefit Obligation, Payment for Settlement	$ 800

Note 6 - Accrued Retirement B42

Note 6 - Accrued Retirement Benefits - Accrued Retirement Benefits (Details) - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016
Accrued retirement benefits	$ 8,031	$ 9,234
Less current portion	(164)	(175)
Non-current portion of accrued retirement benefits	7,867	9,059
Pension Plan [Member] | Qualified Plan [Member]
Accrued retirement benefits	5,812	7,560
Supplemental Employee Retirement Plan [Member] | Nonqualified Plan [Member]
Accrued retirement benefits	$ 2,219	$ 1,674

Note 6 - Accrued Retirement B43

Note 6 - Accrued Retirement Benefits - Changes in Benefit Obligations and Plan Assets (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2017USD ($)	Dec. 31, 2016USD ($)
Change in benefit obligations:
Benefit obligations	$ 56,378	$ 66,852
Interest cost	2,216	2,804
Actuarial loss (gain)	2,074	1,042
Benefits paid	(4,216)	(4,217)
Lump sum payments		(10,103)
Benefit obligations	56,452	56,378
Change in plan assets:
Fair value of plan assets	47,176	56,434
Actual return on plan assets	5,531	5,188
Employer reimbursement for retirement benefits	(230)	(1,054)
Employer contributions	181	928
Benefits paid	(4,216)	(4,217)
Lump sum payments		(10,103)
Fair value	48,442	47,176
Funded status	(8,010)	(9,202)
Accumulated benefit obligations	$ 56,452	$ 56,378
Expected long-term return on plan assets	5.00%	5.00%
Minimum [Member]
Change in plan assets:
Discount rate	3.59%	4.07%
Maximum [Member]
Change in plan assets:
Discount rate	3.64%	4.14%

Note 6 - Accrued Retirement B44

Note 6 - Accrued Retirement Benefits - Net Periodic Cost (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Pension and other benefits:
Interest cost	$ 2,216	$ 2,804
Expected return on plan assets	(2,255)	(2,713)
Recognized net actuarial loss	840	1,030
Settlement/Curtailment Expense		3,958
Pension expense	801	5,079
Other changes in plan assets and benefit obligations recognized in comprehensive income:
Net gain	(1,201)	(1,384)
Recognized gain	(840)	(4,988)
Total recognized gain in comprehensive income	$ (2,041)	$ (6,372)

Note 6 - Accrued Retirement B45

Note 6 - Accrued Retirement Benefits - Summary of Assumptions Used (Details)	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Expected long-term return on plan assets	5.00%	5.00%
Minimum [Member]
Discount rate	4.07%	4.30%
Maximum [Member]
Discount rate	4.14%	4.44%

Note 6 - Accrued Retirement B46

Note 6 - Accrued Retirement Benefits - Fair Values of Pension Assets (Details) - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Fair value of pension plan assets	$ 48,442	$ 47,176	$ 56,434
Fair Value, Inputs, Level 1 [Member]
Fair value of pension plan assets
Fair Value, Inputs, Level 2 [Member]
Fair value of pension plan assets	48,442	47,176
Equity Funds [Member]
Fair value of pension plan assets	14,772	7,177
Equity Funds [Member] | Fair Value, Inputs, Level 1 [Member]
Fair value of pension plan assets
Equity Funds [Member] | Fair Value, Inputs, Level 2 [Member]
Fair value of pension plan assets	14,772	7,177
Fixed Income Funds [Member]
Fair value of pension plan assets	32,581	39,025
Fixed Income Funds [Member] | Fair Value, Inputs, Level 1 [Member]
Fair value of pension plan assets
Fixed Income Funds [Member] | Fair Value, Inputs, Level 2 [Member]
Fair value of pension plan assets	32,581	39,025
Money Market Funds [Member]
Fair value of pension plan assets	1,089	974
Money Market Funds [Member] | Fair Value, Inputs, Level 1 [Member]
Fair value of pension plan assets
Money Market Funds [Member] | Fair Value, Inputs, Level 2 [Member]
Fair value of pension plan assets	$ 1,089	$ 974

Note 6 - Accrued Retirement B47

Note 6 - Accrued Retirement Benefits - Summary of Contribution to Defined Benefit Plans (Details) $ in Thousands	Dec. 31, 2017USD ($)
2,018	$ 4,225
2,019	4,154
2,020	4,077
2,021	3,981
2,022	3,865
2023-2027	$ 17,680

Note 7 - Share-based Compensa48

Note 7 - Share-based Compensation (Details Textual) - USD ($)	9 Months Ended	12 Months Ended
	Sep. 30, 2017	Dec. 31, 2017	Dec. 31, 2016
Allocated Share-based Compensation Expense		$ 1,319,000	$ 984,000
Restricted Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period	3 years
Allocated Share-based Compensation Expense		$ 448,000	$ 315,000

Note 8 - Income Taxes (Details

Note 8 - Income Taxes (Details Textual) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent		35.00%	35.00%
Alternative Minimum Tax, Operating Loss Carryforwards Offset Percentage		100.00%
Income Tax Expense (Benefit), Continuing Operations, Adjustment of Deferred Tax (Asset) Liability		$ 12.1
Domestic Tax Authority [Member]
Operating Loss Carryforwards		83.3
State and Local Jurisdiction [Member]
Operating Loss Carryforwards		$ 97.4
Scenario, Forecast [Member]
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent	21.00%

Note 8 - Income Taxes - Effecti

Note 8 - Income Taxes - Effective Income Tax Rate Reconciliation (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Federal income tax expense at statutory rate	$ 3,815	$ 7,635
Adjusted for:
Valuation allowance	(3,814)	(7,603)
Permanent differences and other	(1)	(32)
Income tax benefit - continuing operations

Note 8 - Income Taxes - Summary

Note 8 - Income Taxes - Summary of Deferred Tax Assets and Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016
Net operating loss and tax credit carryforwards	$ 25,745	$ 38,915
Joint venture and other investments	(22)	18
Accrued retirement benefits	2,483	3,924
Property net book value	1,716	2,801
Deferred revenue	546	953
Stock compensation	13	22
Reserves and other	(115)	404
Total deferred tax assets	30,366	47,037
Valuation allowance	(30,366)	(47,037)
Net deferred tax assets

Note 9 - Segment Information -

Note 9 - Segment Information - Reportable Segment Information (Details) - USD ($) $ in Thousands		12 Months Ended
		Dec. 31, 2017	Dec. 31, 2016
Operating revenues		$ 24,377	$ 47,364
Operating costs and expenses		(13,287)	(23,894)
Depreciation expense		(1,756)	(1,984)
General and administrative and other expenses		(2,515)	(2,204)
Operating income (loss)		11,090	23,470
Assets		44,801	38,883
Operating Segments [Member]
Operating revenues	[1]	24,377	47,364
Operating costs and expenses		(6,826)	(13,703)
Depreciation expense		(1,756)	(1,984)
General and administrative and other expenses		(4,705)	(8,207)
Operating income (loss)		11,090	23,470
Interest expense		(190)	(1,656)
Income from continuing operations		10,900	21,814
Capital expenditures	[2]	1,457	123
Assets	[3]	44,801	38,883
Operating Segments [Member] | Real Estate Segment [Member]
Operating revenues	[1]	14,575	37,116
Operating costs and expenses		(1,457)	(7,460)
Depreciation expense
General and administrative and other expenses		(982)	(829)
Operating income (loss)		12,136	28,827
Interest expense
Income from continuing operations
Capital expenditures	[2]	1,457	123
Assets	[3]	13,261	11,634
Operating Segments [Member] | Leasing Segment [Member]
Operating revenues	[1]	5,527	5,324
Operating costs and expenses		(2,444)	(2,971)
Depreciation expense		(1,207)	(1,524)
General and administrative and other expenses		(742)	(626)
Operating income (loss)		1,134	203
Interest expense
Income from continuing operations
Capital expenditures
Assets	[3]	18,100	19,721
Operating Segments [Member] | Utilities Segment [Member]
Operating revenues	[1]	3,153	3,345
Operating costs and expenses		(1,892)	(2,325)
Depreciation expense		(393)	(394)
General and administrative and other expenses		(306)	(271)
Operating income (loss)		562	355
Interest expense
Income from continuing operations
Capital expenditures
Assets	[3]	2,932	3,604
Operating Segments [Member] | Resort Amenities Segment [Member]
Operating revenues	[1]	1,121	1,487
Operating costs and expenses		(978)	(897)
Depreciation expense		(52)
General and administrative and other expenses		(531)	(385)
Operating income (loss)		(440)	205
Interest expense
Income from continuing operations
Capital expenditures
Assets	[3]	1,216	1,476
Operating Segments [Member] | Corporate and Other [Member]
Operating revenues	[1],[4]	1	92
Operating costs and expenses	[4]	(55)	(50)
Depreciation expense	[4]	(104)	(66)
General and administrative and other expenses	[4]	(2,144)	(6,096)
Operating income (loss)	[4]	(2,302)	(6,120)
Interest expense
Income from continuing operations
Capital expenditures
Assets	[3],[4]	$ 9,292	$ 2,448
[1]	Amounts are principally revenues from external customers and exclude equity in earnings of affiliates. Intersegment revenues were insignificant.
[2]	Primarily includes expenditures for property and deferred costs.
[3]	Segment assets are located in the United States.
[4]	Consists primarily of miscellaneous transactions and unallocated general and administrative, and pension and other post-retirement expenses.

Note 10 - Reserves - Allowance

Note 10 - Reserves - Allowance for Doubtful Accounts and Reserves for Environmental Liabilities (Details) - Allowance for Doubtful Accounts [Member] - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Balance at beginning of year	$ 57	$ 319
Increase		578
Decrease	(17)	(840)
Balance at end of year	$ 40	$ 57

Note 12 - Fair Value Measurem54

Note 12 - Fair Value Measurements (Details Textual) - USD ($)	Dec. 31, 2017	Dec. 31, 2016
Fair Value, Inputs, Level 2 [Member]
Long-term Debt	$ 1,235,000	$ 6,857,000