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Maui Land & Pineapple Company facts for kids
| Traded as | NYSE: MLP Russell 2000 Index component |
|---|---|
| Founded | 1909 |
| Headquarters | Kapalua, Hawaii |
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Area served
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United States |
| Products | pineapple |
Maui Land & Pineapple Company, Inc. (also called ML&P) is a company that owns and manages a lot of land on the island of Maui, Hawaii. It was started in 1909.
The company owns about 24,300 acres (98 km²) of land. It builds, sells, and manages homes, resorts, shops, and other buildings. ML&P also runs golf courses and water services at the Kapalua Resort. A big part of what they do is manage the 8,304-acre (33.61 km²) Puʻu Kukui Watershed Preserve. This is one of the largest private nature areas in Hawaii. The company used to grow pineapples, but they stopped in 2009.
Contents
What Maui Land & Pineapple Company Does
Maui Land & Pineapple Company is split into two main parts. These parts help manage their land and businesses.
Kapalua Resort Fun
The Kapalua Land Company manages the Kapalua Resort. This resort covers about 1,650 acres (6.7 km²). It has over 800 homes, condos, and places to stay.
The resort also has golf courses, tennis courts, a spa, and shops. The Kapalua Resort is famous for hosting a big golf tournament, the PGA Tour’s Hyundai Tournament, every January.
Building and Land Management
The Community Development part of ML&P manages all the company's land. They plan, build, and sell real estate. This includes homes and businesses.
They also run Kapalua Realty, which helps sell properties. Another important part is Kapalua Water Company. This company provides water and sewage services to the Kapalua Resort.
ML&P mostly builds fancy homes and properties in the Kapalua Resort. Some of their finished projects include the Honolua Village Center and the Kapalua Coastal Trail. They also built the Kapalua Spa and The Ritz-Carlton Club and Residences at Kapalua Bay.
The company is also planning to build more affordable homes. These new communities will be in Pulelehua in West Maui and Hāliʻimaile in the "Upcountry" area of Maui.
Maui Pineapple Company (Past Operations)
The Maui Pineapple Company, Ltd. (MPC) used to be the biggest grower of Hawaiian pineapples in the United States. It started in 1909 as Keahua Ranch Company, Ltd., and changed its name in 1932.
MPC grew about 2,000 acres (8.1 km²) of a special pineapple called "Maui Gold." They also had Kapalua Farms, which grew organic pineapples. The Maui Pineapple Company stopped growing pineapples in 2009.
However, a new company called Hāliʻimaile Pineapple Company took over. They continue to grow pineapples on 1,350 acres (5.5 km²) on the slopes of Haleakala. They still sell pineapples under the "Maui Gold" brand.
Special Pineapple Types
The "Maui Gold" pineapple was first sold by MPC in 2005. It is known for being naturally sweet and not very sour. You can find Maui Gold pineapples in Hawaii and on the US mainland.
How Pineapples Were Grown
Maui Pineapple Company used special farming methods to keep the land healthy. They would rotate their fields and plant "cover crops" to protect the soil. They also let fields rest (fallow time).
The company used a system called Integrated Pest Management (IPM). This helped them reduce the amount of pesticides they needed. They also looked into growing other crops like taro.
History of the Company
The story of Maui Land & Pineapple Company began in 1903. It was started by Henry Perrine Baldwin and David Dwight Baldwin. They were the sons of a missionary named Rev. Dwight Baldwin.
The Baldwin family bought land in Maui. Over the next 100 years, they started ranching and growing pineapples. By 1933, they owned 22,600 acres (91.5 km²) of land on Maui.
In 1962, the company merged with Baldwin Packers. Then, in 1969, Maui Land & Pineapple Company, Inc. was officially created. It combined land from Alexander & Baldwin and the J. Walter Cameron family. The company then became public, meaning people could buy shares in it.
Colin Campbell Cameron, a descendant of the Baldwin family, was the first president and CEO. He led the company until he passed away in 1992.
Growing and Protecting Land
In 1975, ML&P started Kapalua Land Company, Ltd. This new part of the company focused on building the Kapalua Resort. They opened their first golf course that same year. Over the next 20 years, they added more golf courses, homes, and hotels like The Ritz-Carlton, Kapalua.
ML&P also helped protect important natural areas. In 1978, they set aside 3,307 acres (13.38 km²) of coastal land. This area became the Honolua-Mokuleʻia Marine Life Conservation District.
In 1988, ML&P promised to protect 8,304 acres (33.61 km²) of their West Maui land. This included Puʻu Kukui, the highest point of the West Maui mountains. This area is now the Puʻu Kukui Watershed Preserve. It is one of the largest private nature preserves in Hawaii.
In 1989, during digging for a new hotel, hundreds of remains of ancient Hawaiians were found.
Changes and New Beginnings
Richard Cameron, Colin Cameron's son, became a leader in the company. During his time, the pineapple cannery (the last one in the United States) closed down. The company then only sold fresh pineapples.
Later, Steve Case, a former executive from AOL, became a big investor in the company in 1999. Richard Cameron left his roles in the company in 2005.
The original Kapalua Bay Hotel was taken down in 2006. It was replaced by a new "club" with special memberships.
In 2008, the company faced challenges like higher fuel costs and a drop in real estate prices. This led to some job cuts. Steve Case joined the company's board in 2008.
On December 31, 2009, Maui Pineapple Company stopped its pineapple operations after 97 years. This meant that for a short time, Maui stopped growing pineapples. Only a small pineapple farm on Oʻahu run by Dole Food Company remained.
However, a group of former Maui Pineapple Company leaders and local investors started a new company. This new company, Hāliʻimaile Pineapple Company, Ltd. (HPC), began growing and selling fresh pineapples on January 1, 2010. They continued to use the Maui Gold brand. HPC bought some of the old company's assets and leased land and equipment from ML&P. They also kept 65 of the old employees.
Another company, Ulupono Sustainable Agriculture Development, took over the Kapalua Farms organic pineapple operation in early 2010.
In 2010, Steve Case increased his ownership in ML&P. Also in 2009 and 2010, the Plantation and Bay golf courses at Kapalua were sold to TY Management Corporation.