Assets Held for Sale and Real Estate Sales

3 Months Ended

Mar. 31, 2013

Assets Held for Sale and Real Estate Sales

Assets Held for Sale and Real Estate Sales

4.     Assets Held for Sale and Real Estate Sales

At March 31, 2013, assets held for sale included a 7-acre parcel in Kahului and a 630-acre parcel in Upcountry Maui.

In January 2012, the Company sold an 89-acre parcel in Upcountry Maui for $1.5 million. The sale resulted in a gain of $1.4 million and the Company utilized $353,000 of the proceeds to repay its term loan with American AgCredit, in accordance with the terms of its credit agreement.