Exhibit 99.1

NEWS RELEASE	Contact:
	Michael S. Hotta
	mhotta@kapalua.com

MAUI LAND & PINEAPPLE REPORTS 2^nd QUARTER 2021 RESULTS

KAPALUA RESORT, Hawaii, August 12, 2021 (BUSINESS WIRE) --

Maui Land & Pineapple Company, Inc. (NYSE: MLP) reported net income of $1.9 million, or $0.10 per share, for the second quarter of 2021, compared to a net loss of $0.2 million, or $(0.01) per share, for the second quarter of 2020. Total operating revenues of $5.0 million and $1.7 million were recognized during the three months ended June 30, 2021 and 2020, respectively.

For the six months ended June 30, 2021, the Company reported net income of $0.9 million, or $0.05 per share, compared to a net loss of $1.2 million, or $(0.06) per share, for the six months ended June 30, 2020. Total operating revenues of $7.0 million and $3.7 million were recognized during the six months ended June 30, 2021 and 2020, respectively.

During the quarter ended June 30, 2021, MLP completed real estate sales of the Steeple House in the Kapalua Resort and a conservation easement in Honolua Valley for $1.7 million and $0.9 million, respectively. There were no real estate asset sales in 2020.

Additional Information

Additional information with respect to Maui Land & Pineapple Company, Inc. and our operating results will be available on our Form 10-Q filed with the Securities and Exchange Commission and our website www.mauiland.com.

About Maui Land & Pineapple Company, Inc.

Maui Land & Pineapple Company, Inc. develops, sells, and manages residential, resort, commercial, agricultural and industrial real estate. The Company owns approximately 23,000 acres of land on Maui and manages properties, utilities, and a nature preserve at the Kapalua Resort.

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MAUI LAND & PINEAPPLE COMPANY, INC. AND SUBSIDIARIES

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME

(UNAUDITED)

	Three Months Ended June 30,
	2021			2020
	(in thousands except
	per share amounts)
OPERATING REVENUES
Real estate	$	2,700		$	90
Leasing		1,962			1,436
Resort amenities and other		288			184
Total operating revenues		4,950			1,710
OPERATING COSTS AND EXPENSES
Real estate		454			192
Leasing		876			827
Resort amenities and other		278			169
General and administrative		574			559
Share-based compensation		370			402
Depreciation		302			323
Total operating costs and expenses		2,854			2,472
OPERATING INCOME (LOSS)		2,096			(762	)
Other income		-			894
Pension and other post-retirement expenses		(116	)		(117	)
Interest expense		(32	)		(30	)
INCOME (LOSS) FROM CONTINUING OPERATIONS		1,948			(15	)
Loss from discontinued operations, net		(69	)		(142	)
NET INCOME (LOSS)	$	1,879		$	(157	)
Other compreshensive income - pension, net		221			206
TOTAL COMPREHENSIVE INCOME	$	2,100		$	49
EARNINGS (LOSS) PER COMMON SHARE-BASIC AND DILUTED
Income (Loss) from Continuing Operations	$	0.10		$	-
Loss from Discontinued Operations	$	-		$	(0.01	)
Net Income (Loss)	$	0.10		$	(0.01	)

MAUI LAND & PINEAPPLE COMPANY, INC. AND SUBSIDIARIES

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS)

(UNAUDITED)

	Six Months Ended June 30,
	2021			2020
	(in thousands except
	per share amounts)
OPERATING REVENUES
Real estate	$	2,700		$	158
Leasing		3,763			3,172
Resort amenities and other		546			414
Total operating revenues		7,009			3,744
OPERATING COSTS AND EXPENSES
Real estate		552			367
Leasing		1,716			1,603
Resort amenities and other		691			740
General and administrative		1,291			1,318
Share-based compensation		719			827
Depreciation		602			645
Total operating costs and expenses		5,571			5,500
OPERATING INCOME (LOSS)		1,438			(1,756	)
Other income		13			894
Pension and other post-retirement expenses		(232	)		(234	)
Interest expense		(65	)		(76	)
INCOME (LOSS) FROM CONTINUING OPERATIONS		1,154			(1,172	)
Loss from discontinued operations, net		(209	)		(59	)
NET INCOME (LOSS)	$	945		$	(1,231	)
Other compreshensive income - pension, net		442			412
TOTAL COMPREHENSIVE INCOME (LOSS)	$	1,387		$	(819	)
EARNINGS (LOSS) PER COMMON SHARE-BASIC AND DILUTED
Income (Loss) from Continuing Operations	$	0.06		$	(0.06	)
Loss from Discontinued Operations	$	(0.01	)	$	-
Net Income (Loss)	$	0.05		$	(0.06	)

MAUI LAND & PINEAPPLE COMPANY, INC. AND SUBSIDIARIES

CONDENSED CONSOLIDATED BALANCE SHEETS

	June 30,			December 31,
	2021			2020
	(unaudited)			(audited)
	(in thousands except share data)
CURRENT ASSETS
Cash	$	6,005		$	869
Accounts receivable, net		1,336			1,362
Prepaid expenses and other assets		167			80
Assets held for sale		3,134			7,440
Total current assets		10,642			9,751
PROPERTY		51,414			51,956
Accumulated depreciation		(33,789	)		(33,445	)
Property, net		17,625			18,511
OTHER ASSETS
Deferred development costs		8,964			8,901
Other noncurrent assets		1,222			1,307
Total other assets		10,186			10,208
TOTAL ASSETS	$	38,453		$	38,470
LIABILITIES & STOCKHOLDERS' EQUITY
CURRENT LIABILITIES
Accounts payable	$	441		$	899
Payroll and employee benefits		699			970
Long-term debt, current portion		-			200
Accrued retirement benefits, currernt portion		165			165
Deferred revenue, current portion		447			260
Other current liabilities		407			453
Total current liabilities		2,159			2,947
LONG-TERM LIABILITIES
Accrued retirement benefits		10,091			10,926
Deferred revenue		1,700			1,767
Deposits		2,355			2,680
Other noncurrent liabilities		75			83
Total long-term liabilities		14,221			15,456
COMMITMENTS AND CONTINGENCIES
STOCKHOLDERS' EQUITY
Common stock--no par value, 43,000,000 shares authorized, 19,361,856 and 19,311,528 shares issued and outstanding		82,104			81,485
Additional paid-in-capital		9,184			9,184
Accumulated deficit		(47,959	)		(48,904	)
Accumulated other comprehensive loss		(21,256	)		(21,698	)
Total stockholders' equity		22,073			20,067
TOTAL LIABILITIES & STOCKHOLDERS' EQUITY	$	38,453		$	38,470