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NEWS RELEASE MAUI LAND & PINEAPPLE REPORTS 1st QUARTER 2021 RESULTS Exhibit 99.1 # # # Contact : Michael S. Hotta mhotta@kapalua.com KAPALUA RESORT , Hawaii , May 3 , 2021 ( BUSINESS WIRE ) -- Maui Land & Pineapple Company , Inc. “ MLP ” ( NYSE : MLP ) reported a net loss of $ 934,000 , or $ ( 0.05 ) per share , for the first quarter of 2021 , compared to a net loss of $ 1,074,000 , or $ ( 0.06 ) per share , for the first quarter of 2020. The Company reported total operating revenues of $ 2.06 million and $ 2.04 million during the three months ended March 31 , 2021 and 2020 , respectively . The Company did not have any real estate asset sales during the first quarters of 2021 or 2020 . MLP completed the sale of its regulated utility assets of Kapalua Water Company , Ltd. and Kapalua Waste Treatment Company , Ltd. on May 1 , 2021. The sale results in net proceeds of $ 4.2 million from Hawaii Water Service ( HWS ) , a subsidiary of California Water Service Group ( NYSE : CWT ) . As part of the Hawaii Public Utilities Commission approval of this transaction in March 2021 , the water and wastewater service areas have been expanded in order to serve future developments within the Kapalua resort . 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 .