Maui Land & Pineapple (MLP) 10-Q 22 Apr 20 2020 Q1 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	3 Months Ended
	Mar. 31, 2020	Apr. 14, 2020
Document Information [Line Items]
Entity Registrant Name	MAUI LAND & PINEAPPLE CO INC
Entity Central Index Key	0000063330
Trading Symbol	mlp
Current Fiscal Year End Date	--12-31
Entity Filer Category	Accelerated Filer
Entity Current Reporting Status	Yes
Entity Emerging Growth Company	false
Entity Small Business	true
Entity Interactive Data Current	Yes
Entity Common Stock, Shares Outstanding (in shares)		19,347,658
Entity Shell Company	false
Document Type	10-Q
Document Period End Date	Mar. 31, 2020
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	Q1
Amendment Flag	false
Title of 12(b) Security	Common Stock, no par value

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets (Current Period Unaudited) - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019
CURRENT ASSETS
Cash	$ 766	$ 683
Accounts receivable, less allowance for doubtful accounts of $95 and $35, respectively	1,024	1,173
Prepaid expenses and other assets	189	101
Assets held for sale	7,607	7,597
Total current assets	9,586	9,554
PROPERTY	52,202	52,164
Accumulated depreciation	(32,768)	(32,445)
Property, net	19,434	19,719
OTHER ASSETS
Deferred development costs	8,504	8,504
Other noncurrent assets	1,298	1,342
Total other assets	9,802	9,846
TOTAL ASSETS	38,822	39,119
CURRENT LIABILITIES
Accounts payable	737	1,356
Payroll and employee benefits	300	928
Current portion of accrued retirement benefits	165	165
Deferred club membership revenue	137	35
Other current liabilities	566	468
Total current liabilities	1,905	2,952
LONG-TERM LIABILITIES
Long-term debt	235	1,035
Accrued retirement benefits, net of current portion	9,577	9,702
Other noncurrent liabilities	64	64
Total long-term liabilities	14,564	13,475
COMMITMENTS AND CONTINGENCIES
STOCKHOLDERS' EQUITY
Common stock--no par value, 43,000,000 shares authorized, 19,281,035 and 19,238,081 shares issued and outstanding	81,135	80,606
Additional paid-in-capital	9,184	9,184
Accumulated deficit	(47,374)	(46,300)
Accumulated other comprehensive loss	(20,592)	(20,798)
Total stockholders' equity	22,353	22,692
TOTAL LIABILITIES & STOCKHOLDERS' EQUITY	38,822	39,119
License [Member]
LONG-TERM LIABILITIES
Deferred revenue	2,000
Member Deposits [Member]
LONG-TERM LIABILITIES
Deferred revenue	$ 2,688	$ 2,674

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - USD ($) $ / shares in Thousands, $ in Thousands	Mar. 31, 2020	Dec. 31, 2019
Allowance for doubtful accounts	$ 95	$ 35
Common stock, par value (in dollars per share)	$ 0	$ 0
Common stock, shares authorized (in shares)	43,000,000	43,000,000
Common stock, shares issued (in shares)	19,281,035	19,238,081
Common stock, shares outstanding (in shares)	19,281,035	19,238,081

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations and Comprehensive Loss (Unaudited) - USD ($)	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
OPERATING REVENUES
Leasing	$ 1,736,000	$ 1,916,000
Total operating revenues	2,035,000	2,334,000
OPERATING COSTS AND EXPENSES
Leasing	776,000	720,000
General and administrative	760,000	864,000
Share-based compensation	425,000	598,000
Depreciation	323,000	361,000
Total operating costs and expenses	3,029,000	3,118,000
OPERATING LOSS	(994,000)	(784,000)
Pension and other post-retirement expenses	(117,000)	(253,000)
Interest expense	(46,000)	(47,000)
LOSS FROM CONTINUING OPERATIONS	(1,157,000)	(1,084,000)
Income (Loss) from discontinued operations, net	83,000	(11,000)
NET LOSS	(1,074,000)	(1,095,000)
Pension, net	206,000	211,000
COMPREHENSIVE LOSS	$ (868,000)	$ (884,000)
EARNINGS (LOSS) PER COMMON SHARE-BASIC AND DILUTED
Loss from Continuing Operations (in dollars per share)	$ (0.06)	$ (0.06)
Income (Loss) from Discontinued Operations (in dollars per share)
Net Loss (in dollars per share)	$ (0.06)	$ (0.06)
Real Estate [Member]
OPERATING REVENUES
Operating revenues	$ 69,000	$ 157,000
OPERATING COSTS AND EXPENSES
Operating Costs and Expenses	175,000	264,000
Resort Amenities and Other [Member]
OPERATING REVENUES
Operating revenues	230,000	261,000
OPERATING COSTS AND EXPENSES
Operating Costs and Expenses	$ 570,000	$ 311,000

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Changes in Stockholders' Equity (Unaudited) - 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, 2018	19,125
Balance at Dec. 31, 2018	$ 79,411	$ 9,246	$ (35,934)	$ (21,804)	$ 30,919
Share-based compensation (in shares)	52
Share-based compensation	$ 889	208			1,097
Vested restricted stock issued (in shares)	16
Vested restricted stock issued	$ 208	(208)
Shares cancelled to pay tax liability (in shares)	(38)
Shares cancelled to pay tax liability	$ (400)				(400)
Other comprehensive income - pension				211	211
Net loss			(1,095)		(1,095)
Stock option exercised (in shares)	25
Stock option exercised	$ 62	68			130
Pension, net				211	211
Balance (in shares) at Mar. 31, 2019	19,180
Balance at Mar. 31, 2019	$ 80,170	9,314	(37,029)	(21,593)	30,862
Balance (in shares) at Dec. 31, 2019	19,238
Balance at Dec. 31, 2019	$ 80,606	9,184	(46,300)	(20,798)	22,692
Share-based compensation (in shares)	68
Share-based compensation	$ 865	186			1,051
Vested restricted stock issued (in shares)	17
Vested restricted stock issued	$ 186	(186)
Shares cancelled to pay tax liability (in shares)	(42)
Shares cancelled to pay tax liability	$ (522)				(522)
Other comprehensive income - pension				206	206
Net loss			(1,074)		(1,074)
Pension, net				206	206
Balance (in shares) at Mar. 31, 2020	19,281
Balance at Mar. 31, 2020	$ 81,135	$ 9,184	$ (47,374)	$ (20,592)	$ 22,353

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
NET CASH PROVIDED BY OPERATING ACTIVITIES	$ 1,453	$ 555
CASH USED IN INVESTING ACTIVITIES
Payments for property and deferred development costs	(48)	(146)
CASH FLOWS FROM FINANCING ACTIVITIES
Proceeds from long-term debt	700	500
Payments on long-term debt	(1,500)
Debt and common stock issuance costs and other	(522)	(400)
NET CASH PROVIDED BY (USED IN) FINANCING ACTIVITIES	(1,322)	100
NET INCREASE IN CASH	83	509
CASH AT BEGINNING OF PERIOD	683	624
CASH AT END OF PERIOD	766	1,133
Cash paid during the period for interest:	$ 14	$ 26

Supplemental Disclosure of Non-

Supplemental Disclosure of Non-cash Activities:	3 Months Ended
	Mar. 31, 2020
Notes to Financial Statements
Cash Flow, Supplemental Disclosures [Text Block]	SUPPLEMENTAL DISCLOSURE OF NON-CASH ACTIVITIES: ● Common stock issued to certain members of the Company’s management totaled $865,000 $951,000 three March 31, 2020 2019,

Note 1 - Basis of Presentation

Note 1 - Basis of Presentation	3 Months Ended
	Mar. 31, 2020
Notes to Financial Statements
Business Description and Basis of Presentation [Text Block]	1. BASIS OF PRESENTATION The accompanying interim unaudited condensed consolidated financial statements have been prepared by Maui Land & Pineapple Company, Inc. (together with its subsidiaries, the “Company”) in accordance with U.S. generally accepted accounting principles (GAAP) for interim financial information that are consistent in all material respects with those applied in the Company’s Annual Report on Form 10 December 31, 2019, 10 8 X not March 31, 2020 2019. 10 December 31, 2019.

Note 2 - Use of Estimates and R

Note 2 - Use of Estimates and Reclassifications	3 Months Ended
	Mar. 31, 2020
Notes to Financial Statements
Use of Estimates and Reclassifications Disclosure [Text Block]	2. USE OF ESTIMATES AND RECLASSIFICATIONS The Company’s reports for interim periods utilize numerous estimates of general and administrative expenses and other costs for the full year. Future actual amounts may not March 31, 2019 no

Note 3 - Shares - Basic and Dil

Note 3 - Shares - Basic and Diluted	3 Months Ended
	Mar. 31, 2020
Notes to Financial Statements
Earnings Per Share [Text Block]	3. SHARES – BASIC AND DILUTED Basic and diluted weighted-average shares outstanding for the three March 31, 2020 2019 Three Months Ended March 31, (unaudited) 2020 2019 Basic and diluted 19,254,783 19,144,912 Potentially dilutive - 19,775 Basic net loss per common share is computed by dividing net loss by the weighted-average number of common shares outstanding. Diluted net loss per common share is computed similar to basic net loss 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. The treasury stock method is utilized to determine the number of potentially dilutive shares related to the outstanding non-qualified stock options.

Note 4 - Property

Note 4 - Property	3 Months Ended
	Mar. 31, 2020
Notes to Financial Statements
Property, Plant and Equipment Disclosure [Text Block]	4 . PROPERTY Property at March 31, 2020 December 31, 2019 March 31, December 31, 2020 2019 (unaudited) (audited) (in thousands) Land $ 5,073 $ 5,073 Land improvements 13,153 13,153 Buildings 23,439 23,439 Machinery and equipment 10,529 10,495 Construction-in-progress 8 4 Total property 52,202 52,164 Less accumulated depreciation 32,768 32,445 Property, net $ 19,434 $ 19,719 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 systems 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

Note 5 - Assets Held for Sale

Note 5 - Assets Held for Sale	3 Months Ended
	Mar. 31, 2020
Notes to Financial Statements
Assets Held-for-Sale and Real Estate Sales Disclosure [Text Block]	5 . ASSETS HELD FOR SALE Assets held for sale at March 31, 2020 December 31, 2019 March 31, December 31, 2020 2019 (unaudited) (audited) (in thousands) Kapalua Resort, 46-acre Kapalua Central Resort project $ 2,948 $ 2,938 Kapalua Resort, Kapalua Water and Kapalua Waste Treatment Company assets 4,503 4,503 Upcountry Maui, 630-acre parcel of agricultural land 156 156 $ 7,607 $ 7,597 In February 2020, $43.9 July 31, 2020 45 In December 2019, 13. The above assets held for sale have not

Note 6 - Long-term Debt

Note 6 - Long-term Debt	3 Months Ended
	Mar. 31, 2020
Notes to Financial Statements
Debt Disclosure [Text Block]	6. LONG-TERM DEBT Long-term debt is comprised of amounts outstanding under the Company’s $15.0 December 31, 2021. 3.50%, 5.08% 5.19%, March 31, 2020 December 31, 2019, 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 $2.0 $45.0 The Company believes that it is in compliance with the covenants under the Credit Facility as of March 31, 2020.

Note 7 - Share-based Compensati

Note 7 - Share-based Compensation	3 Months Ended
	Mar. 31, 2020
Notes to Financial Statements
Share-based Payment Arrangement [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 $425,000 $598,000 three March 31, 2020 2019, $186,000 $208,000 first three 2020 2019,

Note 8 - Accrued Retirement Ben

Note 8 - Accrued Retirement Benefits	3 Months Ended
	Mar. 31, 2020
Notes to Financial Statements
Retirement Benefits [Text Block]	8 . ACCRUED RETIREMENT BENEFITS Accrued retirement benefits at March 31, 2020 December 31, 2019 March 31, December 31, 2020 2019 (unaudited) (audited) (in thousands) Defined benefit pension plan $ 7,547 $ 7,658 Non-qualified retirement plans 2,195 2,209 Total 9,742 9,867 Less current portion (165 ) (165 ) Non-current portion of accrued retirement benefits $ 9,577 $ 9,702 The Company has a defined benefit pension plan which covers substantially all of its former bargaining and non-bargaining full-time, part-time and intermittent employees. In 2011, nine 2009 The net periodic benefit costs for pension and postretirement benefits for the three March 31, 2020 2019 Three Months Ended March 31, (unaudited) 2020 2019 (in thousands) Interest cost $ 408 $ 527 Expected return on plan assets (497 ) (485 ) Amortization of net loss 206 211 Pension and other postretirement expenses $ 117 $ 253

Note 9 - Deferred Revenue

Note 9 - Deferred Revenue	3 Months Ended
	Mar. 31, 2020
Notes to Financial Statements
Revenue from Contract with Customer [Text Block]	9 . DEFERRED REVENUE Deferred club membership revenue The Company manages the operations of the Kapalua Club, a private, non-equity club program providing our members special programs, access and other privileges at certain of the amenities within the Kapalua Resort. Deferred revenues from dues received from the private club membership program are recognized on a straight-line basis over one Deferred license fee revenue The Company entered into a trademark license agreement with the owner of the Kapalua Plantation and Bay golf courses, effective April 1, 2020. $2 March 31, 2020.

Note 10 - Income Taxes

Note 10 - Income Taxes	3 Months Ended
	Mar. 31, 2020
Notes to Financial Statements
Income Tax Disclosure [Text Block]	10 . INCOME TAXES The Company uses 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. 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 full valuation allowance continues to be established for deferred income tax assets as of March 31, 2020 December 31, 2019,

Note 11 - Reportable Operating

Note 11 - Reportable Operating Segments	3 Months Ended
	Mar. 31, 2020
Notes to Financial Statements
Segment Reporting Disclosure [Text Block]	1 1 . REPORTABLE OPERATING SEGMENTS The Company’s reportable operating segments are comprised of the discrete business units whose operating results are regularly reviewed by the Company’s Chief Executive Officer – its chief decision maker – in assessing performance and determining the allocation of resources. Reportable operating 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 • Resort Amenities include a membership program that provides certain benefits and privileges within the Kapalua Resort for its members. The Company’s reportable operating segment results are measured based on operating income (loss), exclusive of interest, depreciation, general and administrative, share-based compensation, pension and other postretirement expenses. Reportable operating segment revenues and income for the three March 31, 2020 2019 Three Months Ended March 31, (unaudited) 2020 2019 (in thousands) Operating Segment Revenues Real estate $ 69 $ 157 Leasing 1,736 1,916 Resort amenities and other 230 261 Total Operating Segment Revenues $ 2,035 $ 2,334 Operating Segment Income (Loss) Real estate $ (106 ) $ (107 ) Leasing 960 1,196 Resort amenities and other (340 ) (50 ) Total Operating Segment Income $ 514 $ 1,039

Note 12 - Leasing Arrangements

Note 12 - Leasing Arrangements	3 Months Ended
	Mar. 31, 2020
Notes to Financial Statements
Lessor, Operating Leases [Text Block]	12. LEASING ARRANGEMENTS The Company leases land primarily to agriculture operators and space in commercial buildings, primarily to restaurant and retail tenants through 2048. no three March 31, 2020 2019 Three Months Ended March 31, (unaudited) 2020 2019 (in thousands) Minimum rentals $ 697 $ 710 Percentage rentals 266 405 Licensing fees 234 234 Other (primarily common area recoveries) 290 327 Water system sales 249 240 Total $ 1,736 $ 1,916

Note 13 - Discontinued Operatio

Note 13 - Discontinued Operations	3 Months Ended
	Mar. 31, 2020
Notes to Financial Statements
Disposal Groups, Including Discontinued Operations, Disclosure [Text Block]	13 . DISCONTINUED OPERATIONS The results of discontinued operations related to the sale of the Kapalua Water Company and Kapalua Waste Treatment Company assets for the three March 31, 2020 2019 Three Months Ended March 31, (unaudited) 2020 2019 (in thousands) Operating revenues $ 740 $ 667 Operating costs and expenses (657 ) (607 ) Deprectiation expense - (71 ) Income (loss) from discontinued operations $ 83 $ (11 )

Note 14 - Commitments and Conti

Note 14 - Commitments and Contingencies	3 Months Ended
	Mar. 31, 2020
Notes to Financial Statements
Commitments and Contingencies Disclosure [Text Block]	14. COMMITMENTS AND CONTINGENCIES On December 31, 2018, 19, May 15, 2020. The Company is presently unable to estimate the amount, or range of amounts, of any probable liability, if any, related to the Order and no There are various other claims and legal actions pending against the Company. The resolution of these other matters is not In March 2020, 19 19 19

Note 15 - Fair Value Measuremen

Note 15 - Fair Value Measurements	3 Months Ended
	Mar. 31, 2020
Notes to Financial Statements
Fair Value Measurement and Measurement Inputs, Recurring and Nonrecurring [Text Block]	15 . F AIR VALUE MEASUREMENTS GAAP establishes a framework for measuring fair value, and requires certain disclosures about fair value measurements to enable the reader of the interim unaudited condensed consolidated 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 interim unaudited condensed consolidated balance sheets and interim unaudited condensed 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 fair value of income tax receivables approximate their carrying value due to the certainty of collection or 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, which approximated fair value, was $235,000 $1,035,000 March 31, 2020 December 31, 2019, 2

Note 16 - Recent Accounting Pro

Note 16 - Recent Accounting Pronoucements	3 Months Ended
	Mar. 31, 2020
Notes to Financial Statements
Accounting Standards Update and Change in Accounting Principle [Text Block]	16 . RECENT ACCOUNTING PRONOUCEMENTS In June 2016, 2016 13 2019 10 first 2023. In August 2018, 2018 13 1 2 3 3 3 3 2020 not In August, 2018, 2018 14 715 December 15, 2020, January 1, 2021. In August 2018, 2018 15 first 2020 not In December 2019, 2019 12 740, Income Taxes 740. first 2021. In March 2020, 2020 04 848 December 31, 2022.

Note 17 - Subsequent Event

Note 17 - Subsequent Event	3 Months Ended
	Mar. 31, 2020
Notes to Financial Statements
Subsequent Events [Text Block]	17. SUBSEQUENT EVENT The Coronavirus Aid, Relief and Economic Security (CARES) Act, signed into law in March 2020, $349 8 2 1%. may April 2020, $246,000

Note 3 - Shares - Basic and D_2

Note 3 - Shares - Basic and Diluted (Tables)	3 Months Ended
	Mar. 31, 2020
Notes Tables
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share [Table Text Block]	Three Months Ended March 31, (unaudited) 2020 2019 Basic and diluted 19,254,783 19,144,912 Potentially dilutive - 19,775

Note 4 - Property (Tables)

Note 4 - Property (Tables)	3 Months Ended
	Mar. 31, 2020
Notes Tables
Property, Plant and Equipment [Table Text Block]	March 31, December 31, 2020 2019 (unaudited) (audited) (in thousands) Land $ 5,073 $ 5,073 Land improvements 13,153 13,153 Buildings 23,439 23,439 Machinery and equipment 10,529 10,495 Construction-in-progress 8 4 Total property 52,202 52,164 Less accumulated depreciation 32,768 32,445 Property, net $ 19,434 $ 19,719

Note 5 - Assets Held for Sale (

Note 5 - Assets Held for Sale (Tables)	3 Months Ended
	Mar. 31, 2020
Notes Tables
Disclosure of Long Lived Assets Held-for-sale [Table Text Block]	March 31, December 31, 2020 2019 (unaudited) (audited) (in thousands) Kapalua Resort, 46-acre Kapalua Central Resort project $ 2,948 $ 2,938 Kapalua Resort, Kapalua Water and Kapalua Waste Treatment Company assets 4,503 4,503 Upcountry Maui, 630-acre parcel of agricultural land 156 156 $ 7,607 $ 7,597

Note 8 - Accrued Retirement B_2

Note 8 - Accrued Retirement Benefits (Tables)	3 Months Ended
	Mar. 31, 2020
Notes Tables
Schedule of Defined Benefit Plans Disclosures [Table Text Block]	March 31, December 31, 2020 2019 (unaudited) (audited) (in thousands) Defined benefit pension plan $ 7,547 $ 7,658 Non-qualified retirement plans 2,195 2,209 Total 9,742 9,867 Less current portion (165 ) (165 ) Non-current portion of accrued retirement benefits $ 9,577 $ 9,702
Schedule of Net Benefit Costs [Table Text Block]	Three Months Ended March 31, (unaudited) 2020 2019 (in thousands) Interest cost $ 408 $ 527 Expected return on plan assets (497 ) (485 ) Amortization of net loss 206 211 Pension and other postretirement expenses $ 117 $ 253

Note 11 - Reportable Operatin_2

Note 11 - Reportable Operating Segments (Tables)	3 Months Ended
	Mar. 31, 2020
Notes Tables
Schedule of Segment Reporting Information, by Segment [Table Text Block]	Three Months Ended March 31, (unaudited) 2020 2019 (in thousands) Operating Segment Revenues Real estate $ 69 $ 157 Leasing 1,736 1,916 Resort amenities and other 230 261 Total Operating Segment Revenues $ 2,035 $ 2,334 Operating Segment Income (Loss) Real estate $ (106 ) $ (107 ) Leasing 960 1,196 Resort amenities and other (340 ) (50 ) Total Operating Segment Income $ 514 $ 1,039

Note 12 - Leasing Arrangements

Note 12 - Leasing Arrangements (Tables)	3 Months Ended
	Mar. 31, 2020
Notes Tables
Operating Lease, Lease Income [Table Text Block]	Three Months Ended March 31, (unaudited) 2020 2019 (in thousands) Minimum rentals $ 697 $ 710 Percentage rentals 266 405 Licensing fees 234 234 Other (primarily common area recoveries) 290 327 Water system sales 249 240 Total $ 1,736 $ 1,916

Note 13 - Discontinued Operat_2

Note 13 - Discontinued Operations (Tables)	3 Months Ended
	Mar. 31, 2020
Notes Tables
Disposal Groups, Including Discontinued Operations [Table Text Block]	Three Months Ended March 31, (unaudited) 2020 2019 (in thousands) Operating revenues $ 740 $ 667 Operating costs and expenses (657 ) (607 ) Deprectiation expense - (71 ) Income (loss) from discontinued operations $ 83 $ (11 )

Supplemental Disclosure of No_2

Supplemental Disclosure of Non-cash Activities: (Details Textual) - USD ($)	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Stock Issued	$ 865,000	$ 951,000

Note 3 - Shares - Basic and D_3

Note 3 - Shares - Basic and Diluted - Antidilutive Securities (Details) - shares	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Basic and diluted (in shares)	19,254,783	19,144,912
Potentially dilutive (in shares)		19,775

Note 4 - Property (Details Text

Note 4 - Property (Details Textual) - Land [Member]	3 Months Ended
	Mar. 31, 2020ft²a
Area of Land (Acre)	22,800
West Maui [Member]
Area of Land (Acre)	20,700
Area of Elevation from Sea (Square Foot) | ft²	5,700
West Maui [Member] | Kapalua Resort [Member]
Area of Land (Acre)	3,000
Area of Land Designated (Acre)	900
Upcountry Maui [Member]
Area of Land (Acre)	2,100

Note 4 - Property - Property, P

Note 4 - Property - Property, Plant and Equipment (Details) - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019
Property, plant and equipment, gross	$ 52,202	$ 52,164
Less accumulated depreciation	32,768	32,445
Property, net	19,434	19,719
Land [Member]
Property, plant and equipment, gross	5,073	5,073
Land Improvements [Member]
Property, plant and equipment, gross	13,153	13,153
Building [Member]
Property, plant and equipment, gross	23,439	23,439
Machinery and Equipment [Member]
Property, plant and equipment, gross	10,529	10,495
Construction in Progress [Member]
Property, plant and equipment, gross	$ 8	$ 4

Note 5 - Assets Held for Sale_2

Note 5 - Assets Held for Sale (Details Textual) - USD ($) $ in Thousands	Sep. 14, 2020	Mar. 31, 2020	Dec. 31, 2019
Real Estate Held-for-sale		$ 7,607	$ 7,597
Kapalua Central Resort Project [Member] | Forecast [Member]
Receivables, Long-term Contracts or Programs, Total	$ 43,900
Agricultural Land and Wastewater Treatment Facility [Member] | Upcountry Maui [Member]
Real Estate Held-for-sale		$ 0

Note 5 - Assets Held for Sale -

Note 5 - Assets Held for Sale - Assets Held for Sale (Details) - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019
Assets held for sale	$ 7,607	$ 7,597
Kapalua Central Resort Project [Member] | Kapalua Resort [Member]
Assets held for sale	2,948	2,938
Kapalua Resort, Kapalua Water Company, and Kapalua Waste Treatment Company Assets [Member] | Kapalua Resort [Member]
Assets held for sale	4,503	4,503
630-Acre Parcel Of Agricultural Land [Member] | Upcountry Maui [Member]
Assets held for sale	$ 156	$ 156

Note 5 - Assets Held for Sale_3

Note 5 - Assets Held for Sale - Assets Held for Sale (Details) (Parentheticals) - a	Mar. 31, 2020	Dec. 31, 2019
Kapalua Central Resort Project [Member] | Kapalua Resort [Member]
Area of real estate (Acre)	46
630-Acre Parcel Of Agricultural Land [Member] | Upcountry Maui [Member]
Area of real estate (Acre)	630	630

Note 6 - Long-term Debt (Detail

Note 6 - Long-term Debt (Details Textual) - First Hawaiian Bank Revolving Line of Credit [Member] - Revolving Credit Facility [Member] $ in Thousands	3 Months Ended
	Mar. 31, 2020USD ($)ft²aRate	Dec. 31, 2019Rate
Line of Credit Facility, Maximum Borrowing Capacity	$ 15,000
Debt Instrument, Interest Rate, Effective Percentage (Rate) | Rate	5.08%	5.19%
Line of Credit Facility, Commitment Fee Amount	$ 0
Debt Instrument, Covenant, Required Minimum Liquidity	2,000
Debt Instrument, Covenant, Maximum Total Liabilities	$ 45,000
Kapalua Mauka [Member]
Pledged Assets not Separately Reported, Area of Real Estate (Acre) | a	800
Kapalua Resort [Member]
Pledged Assets not Separately Reported, Area of Real Estate (Acre) | ft²	30,000
London Interbank Offered Rate (LIBOR) [Member]
Debt Instrument, Basis Spread on Variable Rate (Rate) | Rate	3.50%

Note 7 - Share-based Compensa_2

Note 7 - Share-based Compensation (Details Textual) - USD ($)	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Share-based Payment Arrangement, Expense	$ 425,000	$ 598,000
Restricted Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period (Year)	3 years
Share-based Payment Arrangement, Expense	$ 186,000	$ 208,000

Note 8 - Accrued Retirement B_3

Note 8 - Accrued Retirement Benefits - Accrued Retirement Benefits (Details) - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019
Accrued retirement benefits	$ 9,742	$ 9,867
Less current portion	(165)	(165)
Non-current portion of accrued retirement benefits	9,577	9,702
Pension Plan [Member] | Qualified Plan [Member]
Accrued retirement benefits	7,547	7,658
Supplemental Employee Retirement Plan [Member] | Nonqualified Plan [Member]
Accrued retirement benefits	$ 2,195	$ 2,209

Note 8 - Accrued Retirement B_4

Note 8 - Accrued Retirement Benefits - Net Periodic Cost (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Interest cost	$ 408	$ 527
Expected return on plan assets	(497)	(485)
Amortization of net loss	206	211
Pension and other postretirement expenses	$ 117	$ 253

Note 9 - Deferred Revenue 1 (De

Note 9 - Deferred Revenue 1 (Details Textual) - USD ($) $ in Millions	Mar. 31, 2020	Dec. 31, 2019
License [Member]
Contract With Customer, Liability, License Fee Revenue, Noncurrent	$ 2

Note 9 - Deferred Revenue 2 (De

Note 9 - Deferred Revenue 2 (Details Textual)	Mar. 31, 2020
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2020-04-01 | Club Membership [Member]
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period (Year)	1 year

Note 11 - Reportable Operatin_3

Note 11 - Reportable Operating Segments - Financial Results for Reportable Segments (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Operating Segment Income (Loss)
OPERATING LOSS	$ (994)	$ (784)
Operating Segments [Member]
Operating Segment Revenues
Operating revenues	2,035	2,334
Operating Segment Income (Loss)
OPERATING LOSS	514	1,039
Operating Segments [Member] | Real Estate Segment [Member]
Operating Segment Revenues
Operating revenues	69	157
Operating Segment Income (Loss)
OPERATING LOSS	(106)	(107)
Operating Segments [Member] | Leasing Segment [Member]
Operating Segment Revenues
Operating revenues	1,736	1,916
Operating Segment Income (Loss)
OPERATING LOSS	960	1,196
Operating Segments [Member] | Resort Amenities Segment [Member]
Operating Segment Revenues
Operating revenues	230	261
Operating Segment Income (Loss)
OPERATING LOSS	$ (340)	$ (50)

Note 12 - Leasing Arrangement_2

Note 12 - Leasing Arrangements - Rental Income under Operating Leases (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Minimum rentals	$ 697	$ 710
Percentage rentals	266	405
Licensing fees	234	234
Other (primarily common area recoveries)	290	327
Leasing	1,736	1,916
Total	1,736	1,916
Water System Sales [Member]
Leasing	249	240
Total	$ 249	$ 240

Note 13 - Discontinued Operat_3

Note 13 - Discontinued Operations (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Operating revenues	$ 740	$ 667
Operating costs and expenses	(657)	(607)
Deprectiation expense		(71)
Income (loss) from discontinued operations	$ 83	$ (11)

Note 15 - Fair Value Measurem_2

Note 15 - Fair Value Measurements (Details Textual) - USD ($)	Mar. 31, 2020	Dec. 31, 2019
Fair Value, Inputs, Level 2 [Member]
Long-term Debt, Total	$ 235,000	$ 1,035,000

Note 17 - Subsequent Event (Det

Note 17 - Subsequent Event (Details Textual)	1 Months Ended
	Apr. 30, 2020USD ($)
Subsequent Event [Member]
Proceeds from Paycheck Protection Program Under CARES Act	$ 246,000