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Note 5 - Assets Held for Sale and Real Estate Sales
6 Months Ended
Jun. 30, 2015
Notes to Financial Statements  
Assets Held-for-Sale and Real Estate Sales Disclosure [Text Block]
5
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ASSETS HELD FOR SALE AND REAL ESTATE SALES
 
At June 30, 2015 assets held for sale consisted of a 630-acre parcel of agricultural land in Upcountry Maui; a 5-acre fully entitled, 42-unit workforce housing project located adjacent to the Kapalua Bay Golf Course; and the 26-acre Kapalua Golf Academy.
 
At December 31, 2014, assets held for sale consisted of a 630-acre parcel of agricultural land in Upcountry Maui.
 
In October 2014, the Company sold an unimproved 244-acre parcel of former agricultural land located in West Maui, commonly known as Lipoa Point, to the State of Hawaii for $19.8 million. Proceeds from the sale totaling $19.4 million were utilized to fund the Company’s pension plans.
 
In May 2014, the Company sold a 4-acre parcel and building that serves as the maintenance facility for the Kapalua Plantation Golf Course for $2.3 million and recognized a gain of $1.5 million. The Company utilized $1.9 million of the proceeds to release an approximately 1.1 acre property and building in the Kapalua Resort, commonly known as the Honolua Store from the collateral held under the Wells Fargo credit facility and $0.4 million of the proceeds to repay its term loan with American AgCredit.