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Proc-Type: 2001,MIC-CLEAR
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<SEC-DOCUMENT>0000063330-05-000018.txt : 20050802
<SEC-HEADER>0000063330-05-000018.hdr.sgml : 20050802
<ACCEPTANCE-DATETIME>20050801210808
ACCESSION NUMBER:		0000063330-05-000018
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20050729
ITEM INFORMATION:		Results of Operations and Financial Condition
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20050802
DATE AS OF CHANGE:		20050801

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			MAUI LAND & PINEAPPLE CO INC
		CENTRAL INDEX KEY:			0000063330
		STANDARD INDUSTRIAL CLASSIFICATION:	CANNED, FRUITS, VEG & PRESERVES, JAMS & JELLIES [2033]
		IRS NUMBER:				990107542
		STATE OF INCORPORATION:			HI
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-06510
		FILM NUMBER:		05989848

	BUSINESS ADDRESS:	
		STREET 1:		PO BOX 187
		STREET 2:		120 KANE ST
		CITY:			KAHULUI MAUI
		STATE:			HI
		ZIP:			96732
		BUSINESS PHONE:		8088773351

	MAIL ADDRESS:	
		STREET 1:		PO BOX 187
		CITY:			KAHULUI
		STATE:			HI
		ZIP:			96733
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>form8k0605.txt
<DESCRIPTION>MAUI LAND & PINEAPPLE COMPANY, INC.'S FORM 8-K DATED JULY 29, 2005
<TEXT>







                         UNITED STATES
               SECURITIES AND EXCHANGE COMMISSION
                     WASHINGTON, D.C. 20549




                            FORM 8-K


                         CURRENT REPORT
            Pursuant to Section 13 or 15(d) of the
                 Securities Exchange Act of 1934


Date of Report (Date of earliest event reported): July 29, 2005


              MAUI LAND & PINEAPPLE COMPANY, INC.
     (Exact name of registrant as specified in its charter)


          HAWAII                    1-6510           99-0107542
(State or other jurisdiction of  (Commission     (I.R.S. Employer
incorporation or organization)   File Number)   Identification No.)



120 Kane Street, P. O. Box 187, Kahului, Maui, Hawaii   96733-6687
      (Address of Principal Executive Offices)          (Zip Code)


Registrant's telephone number, including area code: (808) 877-3351

                              NONE
  Former Name or Former Address, if Changed Since Last Report



Check the appropriate box below if the Form 8-K filing is
intended to simultaneously satisfy the filing obligation of the
registrant under any of the following provisions:

[   ] Written communications pursuant to Rule 425 under the
Securities Act (17 CFR 230.425)

[   ] Soliciting material pursuant to Rule 14a-12 under the
Exchange Act (17 CFR 240.14a-12)

[   ] Pre-commencement communications pursuant to Rule 14d-2(b)
under the Exchange Act (17 CFR 240.14d-2(b))

[    ]  Pre-commencement communications pursuant to Rule 13e-4(c)
under the Exchange Act (17 CFR 240.13e-4(c))







ITEM 2.02 RESULTS OF OPERATIONS AND FINANCIAL CONDITION

        On July 29, 2005, Maui Land & Pineapple Company, Inc.
        issued a press release, which sets forth our results of
        operations for the quarter ended
        June 30, 2005.  A copy of the press release is filed
        herewith as Exhibit 99.1 and incorporated herein by
        reference.  Such information shall not be deemed "filed"
        for purposes of Section 18 of the Securities Exchange
        Act of 1934, as amended, and is not incorporated by
        reference into any filing of the company, whether made
        before or after the date hereof, regardless of any
        general incorporation language in such filing.


ITEM 9.01 FINANCIAL STATEMENTS AND EXHIBITS

        (c) Exhibits
            99.1  Maui Land & Pineapple Company, Inc. Press Release
                  dated July 29, 2005.









                           SIGNATURE


      Pursuant to the requirements of the Securities Exchange Act
of 1934, the registrant has duly caused this report to be signed
on its behalf by the undersigned thereunto duly authorized.


                              MAUI LAND & PINEAPPLE COMPANY, INC.



August 1, 2005           /S/ FRED W. RICKERT
    Date                     Fred W. Rickert
                             Vice President/Chief Financial Officer
                             (Principal Financial Officer)



</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99
<SEQUENCE>2
<FILENAME>earningsrel0605.txt
<DESCRIPTION>MAUI LAND & PINEAPPLE COMPANY, INC.'S PRESS RELEASE DATED JULY 29, 2005
<TEXT>







NEWS RELEASE


FOR RELEASE IMMEDIATELY                      CONTACT:
July 29, 2005                                FRED W. RICKERT
                                             808/877-3871
                                             808/877-1614 FAX

MAUI LAND & PINEAPPLE REPORTS 2005 2nd QUARTER RESULTS

     Kahului, Hawaii, July 29.....Maui Land & Pineapple Company, Inc.
(AMEX: MLP) reported net income of $6.5 million ($.90 per share) for
the second quarter of 2005 compared to a net loss of $2.4 million
($.33 per share) for the second quarter of 2004.  For the first six
months of 2005, the Company's net income was $7.7 million ($1.07 per
share) compared to a net loss of $855,000 ($.12 per share) for the
same period in 2004.  Revenues for the second quarter of 2005 were
$51.2 million compared to $29.7 million for the second quarter of
2004.  For the first six months of 2005, consolidated revenues were
$89.3 million compared to $70.3 million for the first half of 2004.

     In the second quarter of 2005, the Company concluded two land
sale transactions of Upcountry Maui properties and recognized revenues
of $14.5 million and pre-tax gains of $10.5 million.  The first sale
included approximately 25 acres of land and improvements to the Hui
No`eau Visual Arts Center.  The second sale included approximately 129
acres of Upcountry Maui land.

     "We continue to re-invest our gains to improve our resort,
development and agricultural operations," said David C. Cole,
Chairman, President and CEO, of ML&P.  "Our pineapple segment hit
performance targets as we work to re-size the business to address
specialty fruit markets - although the unit continues to be impacted
by additional depreciation charges linked to the planned replacement
of current plant facilities next year. Results in the Resort segment
reflect the closing of The Plantation Golf Course for replacement of
the greens and fairway bunkers, while the Community Development
segment has benefited from a robust market for residential properties
on Maui."

     The Pineapple segment produced an operating loss from continuing
operations of $2.6 million for the second quarter of 2005 compared to
an operating loss of $2.8 million for the second quarter of 2004.
Revenues for the second quarter of 2005 of $16.3 million were 4% lower
than the second quarter of 2004.  For the first six months of 2005,
the Pineapple segment reported an operating loss of $4.7 million
compared to an operating loss of $4.6 million for the first six months
of 2004.  Revenues of $32.0 million for the first six months of 2005
were 17% lower than the first six months of 2004.  The Pineapple
operating loss for the second quarter and first half of 2005 includes
$1.2 million and $1.4 million, respectively, of additional
depreciation charges due to the planned replacement of the current
cannery, can plant and fresh fruit packing facility.

     Lower revenues for the second quarter and first half of 2005
largely reflect a reduction in canned sales volume following the
Company's decision to discontinue serving certain retail segments.
Average sales prices for the Company's canned and fresh pineapple
increased in the second quarter and first half of 2005 compared to the
same periods in 2004.

     The Resort segment reported an operating loss of $2.3 million for
the second quarter of 2005 compared to an operating loss of $1.4
million for the second quarter of 2004.  For the first six months of
2005, the Resort produced an operating loss of $1.9 million compared
to an operating loss of $1.3 million for the first six months of 2004.
Resort revenues of $8.7 million for the second quarter of 2005 were
12% lower than the second quarter of 2004; revenues for the first half
of 2005 of $22.1 million were 2% lower than the same period in 2004.

     The closure of the Plantation Golf Course as of April 1, 2005 for
extensive greens and fairway bunker renovations was the single largest
contributor to the lower revenues and increased operating losses from
the Resort segment in 2005.  The renovations remain on schedule and
the course is scheduled to reopen on July 31, 2005.

     The Community Development segment reported an operating profit of
$15.3 million for the second quarter of 2005 compared to $1.0 million
for the second quarter of 2004.  For the first six months of 2005,
Community Development had operating profit of $19.2 million compared
to $5.3 million for the first six months of 2004.  Revenues from this
operating segment were $26.2 million for the second quarter of 2005
compared to $3.0 million for the second quarter of 2004.  For the
first six months of 2005, revenues from this segment were $35.1
million compared to $9.1 million for the first six months of 2004.

     In addition to the land sales mentioned above, revenues from the
Community Development segment for the second quarter of 2005 includes
$9.9 million from the sale of lots at the Honolua Ridge residential
subdivision.  For the first six months of 2005, Community Development
revenues include $17.2 million from the sale of lots at Honolua Ridge.
Revenues and profit from Honolua Ridge are being recognized using the
percentage-of-completion method as the subdivision improvements are
completed.  At the end of the second quarter of 2005, these
improvements were approximately 92% complete.  Operating profit for
the second quarter and first half of 2004 includes $506,000 and $4.5
million, respectively, from the sale of real estate.

             *        *        *        *        *






                  MAUI LAND & PINEAPPLE COMPANY, INC.
                   Report of Consolidated Operations
                              (Unaudited)
            (Dollars in Thousands Except Per Share Amounts)

                           Three Months Ended        Six Months Ended
                                June 30                  June 30
                             2005      2004           2005     2004
Revenues
  Pineapple                  $16,256    $16,871    $32,043   $38,596
  Resort                       8,674      9,888     22,118   22,515
  Community Development       26,224      2,965     35,136    9,111
  Other                           16         18         34       34
Total Revenues                51,170     29,742     89,331   70,256

Operating Profit (Loss)
  Pineapple                   (2,603)    (2,761)    (4,691)  (4,553)
  Resort                      (2,252)    (1,359)    (1,934)  (1,259)
  Community Development       15,321      1,008     19,242    5,347
  Other                          (57)      (145)      (125)    (238)

Net Operating Profit (Loss)   10,409     (3,257)    12,492     (703)

Interest Expense                 (95)      (275)      (237)    (652)
Interest Income                   10          7         30       28
Income Tax (Expense) Benefit  (3,840)     1,178     (4,546)     438

Income (Loss) - Continuing
  Operations                   6,484     (2,347)     7,739     (889)

Income (Loss) - Discontinued
  Operations                      --        (26)        --       34

Net Income (Loss)            $ 6,484    $(2,373)   $ 7,739   $ (855)

Earnings Per Common Share
  Basic                          .90       (.33)      1.07     (.12)
  Diluted                        .89       (.33)      1.06     (.12)

Average Common Shares Outstanding
  Basic                    7,228,569  7,195,822  7,227,576  7,195,811
  Diluted                  7,321,733  7,195,822  7,322,835  7,195,811


NOTES:
The Company's reports for interim periods utilize numerous estimates
of production, general and administrative expenses, and other costs
for the full year.  Consequently, amounts in the interim reports are
not necessarily indicative of results for the full year.

In 2005, responsibility for the real estate leasing activity that was
accounted for in the Resort segment was transferred to the Community
Development segment (previously called "Development" segment) and
prior year amounts were restated for comparability.  The Community
Development segment as reorganized is comprised of all of the
Company's real estate entitlement, development, construction, sales
and leasing activities.  The Community Development segment also
includes the Company's 51% equity interest in Kapalua Bay Holdings
LLC, the owner and operator of the Kapalua Bay Hotel.  Remaining in
the Resort segment are the ongoing operations of Kapalua Resort's
recreation and retail operations, the Kapalua Villas, and the water
and sewage transmission utility companies operations.

Revenues and operating profit reported for the operating segments for
the three and six months of 2004 have also been restated to conform to
a change in Statement of Operations reporting format and the
allocation practice for corporate general and administrative expenses
that the Company adopted in the fourth quarter of 2004.



</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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