8-K

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported):  May 4, 2011

MAUI LAND & PINEAPPLE COMPANY, INC.

 (Exact name of registrant as specified in its charter)

Hawaii	001-06510	99-0107542
(State of Incorporation)	(Commission File Number)	(IRS Employer Identification Number)

870 Haliimaile Road, Makawao, Maui, Hawaii, 96768-9768

(Address of principal executive offices)  (Zip Code)

(808) 877-3351

(Registrant’s telephone number, including area code)

N/A

(Former Name or Former Address, if Changed Since Last Report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

oWritten communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

oSoliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

oPre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

oPre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

ITEM 2.02 RESULTS OF OPERATIONS AND FINANCIAL CONDITION

On May 4, 2011, Maui Land & Pineapple Company, Inc. issued a press release, which sets forth our results of operations for the quarter ended March 31, 2011.  A copy of the press release is filed herewith as Exhibit 99.1 and incorporated herein by reference.

Such information shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, and is not incorporated by reference into any filing of the company, whether made before or after the date hereof, regardless of any general incorporation language in such filing.

Item 9.01                Financial Statements and Exhibits

(d)           Exhibits

Exhibit Number	Description
99.1	Maui Land & Pineapple Company, Inc. Press Release dated May 4, 2011.

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SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

	MAUI LAND & PINEAPPLE COMPANY, INC.
Date:   May 9, 2011	By:	/s/ TIM T. ESAKI
		Tim T. Esaki
		Chief Financial Officer

EXHIBIT INDEX

ExhibitNumber	Description
99.1	Maui Land & Pineapple Company, Inc. Press Release dated May 4, 2011.

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EX-99.1

Exhibit 99.1

NEWS RELEASE	Contact:
	Tim T. Esaki
	(808) 665-5480
	tesaki@mlpmaui.com

MAUI LAND & PINEAPPLE REPORTS 1st QUARTER 2011 RESULTS

KAPALUA, Hawaii, May 4, 2011 (BUSINESS WIRE) —

Maui Land & Pineapple Company, Inc. (NYSE: MLP) reported net income of $12.4 million, or $0.67 per share, for the first quarter of 2011, compared to a net loss of $2.7 million, or $(0.33) per share for the first quarter of 2010.  Revenues for the first quarter of 2011 were $6.4 million, compared to $7.6 million for the first quarter of 2010.

Included in net income for the first quarter of 2011 was a $15.1 million gain recognized from the 2010 sale of the Kapalua Bay Golf Course.  Net income for the first quarter of 2010 included a $1.5 million gain from the sale of real estate and a $3.3 million gain from settlement of post-retirement insurance plans.

“MLP’s first quarter results reflect continued progress as we work through the transition of our operations and focus our efforts on managing and developing our land holdings here on Maui,” stated Tim Esaki, Chief Financial Officer.

Additional Information

Additional information with respect to Maui Land & Pineapple Company, Inc. and our 1st quarter 2011 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, and industrial real estate.  The Company owns approximately 23,000 acres of land on Maui and operates retail, utility operations, and a nature preserve at the Kapalua Resort.

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Maui Land & Pineapple Company, Inc.

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

AND COMPREHENSIVE INCOME (LOSS)

(unaudited)

	Three Months Ended March 31
	2011			2010
	(in thousands except
	share amounts)
OPERATING REVENUES
Real estate sales	$	—		$	1,650
Retail sales	2,840			2,684
Lease income	1,367			1,183
Resort services	992			994
Utility revenues and other	1,217			1,076
Total Operating Revenues	6,416			7,587
OPERATING COSTS AND EXPENSES
Real estate	—			153
Retail	1,993			2,128
Leasing	685			930
Resort services	1,214			1,103
Utility operations and other	910			770
Selling and marketing	335			1,167
General and administrative	1,895			1,307
Depreciation	1,045			1,327
Total Operating Costs and Expenses	8,077			8,885
Operating Loss	(1,661		)	(1,298		)
Interest expense, net	(671		)	(2,755		)
Loss from Continuing Operations Before Income Taxes	(2,332		)	(4,053		)
Income Tax Expense	—			85
Loss from Continuing Operations	(2,332		)	(4,138		)
Income from Discontinued Operations net of income taxes of $0	14,757			1,433
NET INCOME (LOSS)	12,425			(2,705		)
Pension Benefit Adjustment net of income taxes of $0	—			1,422
COMPREHENSIVE INCOME (LOSS)	$	12,425		$	(1,283	)
NET INCOME (LOSS) PER COMMON SHARE—BASIC AND DILUTED
Continuing Operations	$	(0.13	)	$	(0.51	)
Discontinued Operations	0.80			0.18
Net Income (Loss)	$	0.67		$	(0.33	)

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