Kaanapali Land LLC (OTC: KANP) is a Hawaii-based real estate and agriculture company that holds, develops, and sells land parcels on Maui. Revenue comes primarily from transactional land sales and lease income across two segments: Property and Agriculture. The company operates through subsidiaries including KLC Land, Pioneer Mill Company LLC, and Kaanapali Land Management Corp. Key active projects include Puukolii Village, a fully entitled 241-acre residential development planned for 940 units with affordable and market-rate housing, and a 295-acre KCF Mauka parcel planned for 61 agricultural lots. Pioneer Mill Company closed a $19.9 million land sale of approximately 21 acres in Lahaina, Hawaii on March 10, 2026. The company is a Delaware LLC that has elected to be taxed as a corporation. Stephen Lovelette has served as President and CEO since March 2019 and as CFO since June 2018. The company is affiliated with JMB Realty Corporation through common officers. No exchange listing is identified in the 10-K filed March 25, 2026.

Revenue model

Transactional revenue from land sales and lease income, supplemented by crop insurance proceeds and interest and other income, across Property and Agriculture segments. The company develops land in phases to enhance value before sale.

Products and services

Land sales of Maui real estate parcels, agricultural land operations, residential development planning (Puukolii Village: 940-unit mixed residential project on 241 acres), agricultural lot development (KCF Mauka: 61 agricultural lots on 295 acres), and land leasing.

Customers and end markets

Individual land buyers for agricultural lots, third-party purchasers for large parcel transactions, and residential housing end markets including affordable and market-rate homebuyers.

Value-chain role

Land owner, developer, and seller. The company conducts market and feasibility studies, pursues entitlements, subdivides parcels, coordinates infrastructure planning including highway and water access, and sells developed or developable land to third parties.

Geographic exposure

Operations concentrated entirely in Maui, Hawaii, primarily in the Kaanapali and Lahaina areas.

Source: SEC 10-K, filed 2026-03-25

Industry: Land Subdividers & Developers (No Cemeteries) Peers: Alset Inc AMREP Corp Stratus Properties Inc Forestar Group Inc Howard Hughes Corp International Land Alliance Inc Maui Land & Pineapple Company Inc