Note 5 - Investment in Joint Venture

12 Months Ended

Dec. 31, 2023

Notes to Financial Statements

Investment [Text Block]

5. INVESTMENT IN JOINT VENTURE

In December 2023, the Company entered into a joint venture agreement with a local developer to form a Hawai‘i limited liability company ("BRE2 LLC"). The Company's initial capital contribution to BRE2 LLC consisted approximately 31 acres of former pineapple lands in Hali‘imaile valued at $1.6 million. Net proceeds from the sales of improved agricultural lots will be distributed according to terms of the joint venture agreement.