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Income Taxes (Tables) | 12 Months Ended
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Dec. 31, 2025
Income Tax Disclosure [Abstract] |
Schedule of Components of Income Tax Expense (Benefit) | The income tax expense (benefit) on income (loss) from continuing operations for the years ended December 31, 2025, 2024, and 2023, consisted of the following (in thousands):
|  | 2025 |  | 2024 |  | 2023
Current: |  |  |  |  |  |
Federal |  | $ | 47 |  |  | $ | 170 |  |  | $ | (9) |
State |  | (116) |  |  | 4 |  |  | 44 |
Total Current |  | $ | (69) |  |  | $ | 174 |  |  | $ | 35 |
Deferred: |  |  |  |  |  |
Federal |  | $ | — |  |  | $ | — |  |  | $ | — |
State |  | — |  |  | — |  |  | — |
Total Deferred |  | $ | — |  |  | $ | — |  |  | $ | — |
Income tax expense (benefit) |  | $ | (69) |  |  | $ | 174 |  |  | $ | 35 |
Schedule of Effective Income Tax Rate Reconciliation | Income tax expense (benefit) for the years ended December 31, 2025, 2024, and 2023, differs from amounts computed by applying the statutory federal rate to income from continuing operations before income taxes for the following reasons (in thousands):
|  | 2025 |  | 2024 |  | 2023
|  | Amount |  | Percent |  | Amount |  | Percent |  | Amount |  | Percent
Computed federal income tax expense (benefit) |  | $ | 13,548 |  |  | 21% |  | $ | 13,477 |  |  | 21% |  | $ | 8,577 |  |  | 21%
State and local income tax, net of federal income tax effect 1 |  | 3 |  |  | —% |  | 485 |  |  | 1% |  | 45 |  |  | —%
Changes in valuation allowances |  | (1,943) |  |  | (3)% |  | (3,523) |  |  | (6)% |  | 986 |  |  | 2%
REIT rate differential |  | (14,689) |  |  | (23)% |  | (10,553) |  |  | (16)% |  | (9,325) |  |  | (23)%
Nontaxable or nondeductible items |  | 3,008 |  |  | 5% |  | 124 |  |  | —% |  | (96) |  |  | —%
Other, net |  | 4 |  |  | —% |  | 164 |  |  | —% |  | (152) |  |  | —%
Income tax expense (benefit) |  | $ | (69) |  |  | —% |  | $ | 174 |  |  | — | % |  | $ | 35 |  |  | — | %
1 State income taxes in Hawaii and California made up the majority (greater than 50 percent) of the tax effect in this category.
Schedule of Cash Flow, Supplemental Disclosures | The income taxes paid (net of refunds) for the years ended December 31, 2025, 2024, and 2023, consisted of the following (in thousands):
|  | 2025 |  | 2024 |  | 2023
Federal |  | $ | 68 |  |  | $ | 30 |  |  | $ | 178 |
State |  | 4 |  |  | (61) |  |  | (161) |
Total income taxes paid (net of refunds) |  | $ | 72 |  |  | $ | (31) |  |  | $ | 17 |
State: |  |  |  |  |  |
Hawaii |  | $ | — |  |  | $ | (67) |  |  | $ | (167) |
California |  | 4 |  |  | 6 |  |  | 6 |
Total state income taxes paid (net of refunds) |  | $ | 4 |  |  | $ | (61) |  |  | $ | (161) |
Schedule of Deferred Tax Assets and Liabilities | The tax effects of temporary differences that give rise to significant portions of the deferred tax assets and deferred tax liabilities as of December 31, 2025 and 2024, were as follows (in thousands):
|  | 2025 |  | 2024
Deferred tax assets: |  |  |  |
Employee benefits |  | $ | 4,202 |  |  | $ | 4,051 |
Capitalized costs |  | 1,290 |  |  | 1,290 |
Joint ventures and other investments |  | 6,952 |  |  | 5,810 |
Impairment and amortization |  | 621 |  |  | 622 |
Solar investment benefits |  | 14,659 |  |  | 14,814 |
Insurance and other reserves |  | 5,056 |  |  | 6,517 |
Disallowed interest expense |  | 8,684 |  |  | 9,075 |
Net operating losses |  | 52,872 |  |  | 53,795 |
Property |  | 7,047 |  |  | 5,348 |
Other |  | 5,730 |  |  | 8,140 |
Total deferred tax assets |  | $ | 107,113 |  |  | $ | 109,462 |
Valuation allowance |  | (106,344) |  |  | (108,021) |
Total net deferred tax assets |  | $ | 769 |  |  | $ | 1,441 |
Deferred tax liabilities: |  |  |  |
Interest rate swap |  | $ | 433 |  |  | $ | 1,110 |
Other |  | 336 |  |  | 331 |
Total deferred tax liabilities |  | $ | 769 |  |  | $ | 1,441 |
Net deferred tax assets (liabilities) |  | $ | — |  |  | $ | — |
Schedule of Valuation Allowance | Significant management judgment is required in determining the period in which reversal of a valuation allowance should occur. The net change to the valuation allowance recorded during each of the years ended December 31, 2025, 2024, and 2023, was as follows (in thousands):
|  | Balance at Beginning of Year |  | Net Change |  | Balance at End of Year
2025 |  | $ | 108,021 |  |  | $ | (1,677) |  |  | $ | 106,344 |
2024 |  | $ | 109,087 |  |  | $ | (1,066) |  |  | $ | 108,021 |
2023 |  | $ | 109,827 |  |  | $ | (740) |  |  | $ | 109,087 |

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- Definition Tabular disclosure of the components of income tax expense attributable to continuing operations for each year presented including, but not limited to: current tax expense (benefit), deferred tax expense (benefit), investment tax credits, government grants, the benefits of operating loss carryforwards, tax expense that results from allocating certain tax benefits either directly to contributed capital or to reduce goodwill or other noncurrent intangible assets of an acquired entity, adjustments of a deferred tax liability or asset for enacted changes in tax laws or rates or a change in the tax status of the entity, and adjustments of the beginning-of-the-year balances of a valuation allowance because of a change in circumstances that causes a change in judgment about the realizability of the related deferred tax asset in future years. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 9 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482685/740-10-50-9 + Details
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