INVESTMENTS (Tables)

12 Months Ended

Sep. 30, 2012

INVESTMENTS

Summary of investments

	September 30,
	2012			2011
Investment in two residential parcels		$	2,331,000		$	2,331,000
Investment in joint ventures			-			1,754,000
Investment in land interests:
Leasehold land zoned conservation – Lot 4C			50,000			50,000
Lot acquisition rights – Mauka Lands			-			488,000
Total investments		$	2,381,000		$	4,623,000

Kaupulehu Developments

INVESTMENTS

Schedule of revenues related to sales of development rights

	Year ended September 30,
	2012			2011
Sale of development rights under option:
Proceeds		$	-		$	2,656,000
Fees			-			(159,000	)
Revenues – sale of development rights, net		$	-		$	2,497,000

Summary of Increment I percentage of sales payment revenues received from WB

	Year ended September 30,
	2012				2011
Sale of interest in leasehold land:
Proceeds		$	512,000			$	1,325,000
Fees			(30,000	)			(80,000	)
Revenues – sale of interest in leasehold land, net		$	482,000			$	1,245,000