Note 7 - Discontinued Operations

6 Months Ended

Jun. 30, 2014

Discontinued Operations and Disposal Groups [Abstract]

Disposal Groups, Including Discontinued Operations, Disclosure [Text Block]

7.     Discontinued Operations

The Company ceased spa operations in June 2013 and beach club operations in September 2013 in conjunction with the conclusion of The Residences at Kapalua Bay foreclosure proceedings and settlement. In September 2011, the Company ceased all retail operations at the Kapalua Resort. In March 2011, the Company ceased operating the two championship golf courses at the Kapalua Resort. In December 2009, the Company ceased all agriculture operations. Accordingly, the operating results including any gains or losses from the disposal of assets related to these former operations have been reported as discontinued operations in the accompanying consolidated financial statements.

Revenues and income (loss) from discontinued operations were as follows:

	Three Months Ended						Six Months Ended
	June 30,						June 30,
	2014			2013			2014			2013
	(in thousands)						(in thousands)
Revenues
Spa & Beach Club	$	-		$	550		$	-		$	1,275
Total	$	-		$	550		$	-		$	1,275
Income (loss) from Discontinued Operations
Spa & Beach Club	$	-		$	(185	)	$	-		$	(386	)
Retail		(4	)		(3	)		(28	)		(4	)
Agriculture		(21	)		2,177			(53	)		2,170
Income Taxes		-			116			-			116
Total	$	(25	)	$	2,105		$	(81	)	$	1,896

Income from discontinued operations for the three and six months ended June 30, 2013 included a $1.9 million gain from the sale of a 7-acre parcel in Kahului which was part of the Company’s former agricultural processing facilities. The sale proceeds were reflected under investing activities in the Company's condensed consolidated statements of cash flows.