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Maui Land & Pineapple to sell Kapalua water assets

Maui Land & Pineapple Co. has reached an agreement with Hawaii Water Service to sell MLP’s Kapalua Water Co. and Kapalua Waste Treatment Co. regulated utility assets in the Kapalua Resort.

The sale is subject to certain closing conditions, including completion of due diligence and Hawaii Public Utilities Commission approval.

Maui Land, through its two PUC-regulated subsidiaries, Kapalua Water Co. and Kapalua Waste Treatment Co., owns and operates the potable water, nonpotable water and wastewater systems that serve homes, hotels, condominiums, golf courses, restaurants and other resort amenities within the Kapalua Resort. As part of the sale agreement, Hawaii Water Service also will serve the future expansion areas of Kapalua as they are developed.

Maui Land owns about 23,000 acres of land on Maui on which it operates the Kapalua Resort community.

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