SECURITIES AND EXCHANGE COMMISSION
                    Washington, D.C.   20549
                                
                            FORM 10-Q
                                


QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE
SECURITIES EXCHANGE ACT OF 1934

For the quarterly period ended         JUNE 30, 1997

                Commission file number  0-6510

              MAUI LAND & PINEAPPLE COMPANY, INC.
     (Exact name of registrant as specified in its charter)

          HAWAII                               99-0107542
(State or other jurisdiction    (IRS Employer Identification No.)
of incorporation or organization)

P. O. BOX 187, KAHULUI, MAUI, HAWAII   96733-6687
(Address of principal executive offices)

Registrant's telephone number, including area code:  (808) 877-
3351

                               NONE
Former name, former address and former fiscal year, if changed
since last report

Indicate by check mark whether the registrant (1) has filed all
reports required to be filed by Section 13 or 15(d) of the
Securities Exchange Act of 1934 during the preceding 12 months
(or for such shorter period that the registrant was required to
file such reports), and (2) has been subject to such filing
requirements for the past 90 days.

                      Yes  [x]   No  [  ]

Indicate the number of shares outstanding of each of the issuer's
classes of common stock, as of the latest practicable date.

          Class                  Outstanding at August 1, 1997
Common Stock, no par value              1,797,125 shares


              MAUI LAND & PINEAPPLE COMPANY, INC.
                        AND SUBSIDIARIES






                              INDEX

                                                             Page

PART I.  FINANCIAL INFORMATION

Item 1.  Financial Statements

Condensed Balance Sheets - June 30, 1997 (Unaudited)
  & December 31, 1996                                           3

Condensed Statements of Operations and Retained Earnings,
  Three Months Ended June 30, 1997 & 1996 (Unaudited)           4

Condensed Statements of Operations and Retained Earnings,
  Six Months Ended June 30, 1997 & 1996  (Unaudited)            5

Condensed Statements of Cash Flows
  Six Months Ended June 30, 1997 & 1996 (Unaudited)             6

Notes to Condensed Financial Statements (Unaudited)             7

Item 2.  Management's Discussion and Analysis of Financial
Condition and Results of Operations                             8


PART II.  OTHER INFORMATION

Item 1.  Legal Proceedings                                     10

Item 4.  Submission of Matters to a Vote of Security-Holders   10

Item 6.  Exhibits and Reports on Form 8-K                      11

PART I    FINANCIAL INFORMATION
Item 1.   Financial Statements

      MAUI LAND & PINEAPPLE COMPANY, INC. AND SUBSIDIARIES
                    CONDENSED BALANCE SHEETS

                                                Unaudited
                                                  6/30/97     12/31/96
                                                 (Dollars in Thousands)
                                ASSETS
Current Assets
  Cash                                           $  1,923    $     453
  Accounts and notes receivable                    11,418       14,343
  Inventories                                      21,148       16,484
  Other current assets                              3,852        4,028

    Total current assets                           38,341       35,308

Property                                          196,377      190,999
  Accumulated depreciation                       (108,313)   (104,389)

Property - net                                     88,064       86,610

Other Assets                                       12,049       10,933

TOTAL                                             138,454      132,851

                 LIABILITIES AND STOCKHOLDERS' EQUITY
Current Liabilities
  Current portion of long-term debt
         and capital lease obligations              1,549        1,254
  Trade accounts payable                            5,401        7,661
  Other current liabilities                         8,156        6,926

    Total current liabilities                      15,106       15,841

Long-Term Liabilities
  Long-term debt and capital lease obligations     33,926       28,898
  Accrued retirement benefits                      22,031       21,983
  Other long-term liabilities                       7,697        8,096

    Total long-term liabilities                    63,654       58,977

Stockholders' Equity
  Common stock, no par value - 1,800,000 shares
      authorized, 1,797,125 issued and outstanding 12,318       12,318
  Retained earnings                                47,376       45,715

    Stockholders' Equity                           59,694       58,033

TOTAL                                            $138,454    $ 132,851

See accompanying Notes to Condensed Financial Statements.



      MAUI LAND & PINEAPPLE COMPANY, INC. AND SUBSIDIARIES
    CONDENSED STATEMENTS OF OPERATIONS AND RETAINED EARNINGS
                          (UNAUDITED)



                                          Three Months Ended
                                         6/30/97     6/30/96
                                         (Dollars in Thousands
                                         Except Share Amounts)

REVENUES
  Net sales                              $22,417       $22,301
  Operating income                         6,396        5,909
  Other income                             4,297           89

Total Revenues                            33,110       28,299

COSTS AND EXPENSES
  Cost of goods sold                      15,882       15,083
  Operating expenses                       6,704        5,541
  Shipping and marketing                   3,436        3,620
  General and administrative               3,587        3,712
  Equity in losses of
    joint ventures                           270          265
  Interest                                   760          841

Total Costs and Expenses                  30,639       29,062

INCOME (LOSS) BEFORE INCOME TAXES          2,471        (763)

INCOME TAXES (CREDIT)                        914        (287)

NET INCOME (LOSS)                          1,557        (476)

RETAINED EARNINGS, BEGINNING OF PERIOD    45,819       47,172

RETAINED EARNINGS, END OF PERIOD          47,376       46,696

PER COMMON SHARE
  Net Income (Loss)                      $   .86       $(.26)


See accompanying Notes to Condensed Financial Statements.




      MAUI LAND & PINEAPPLE COMPANY, INC. AND SUBSIDIARIES
    CONDENSED STATEMENTS OF OPERATIONS AND RETAINED EARNINGS
                          (UNAUDITED)



                                           Six Months Ended
                                         6/30/97     6/30/96
                                         (Dollars in Thousands
                                         Except Share Amounts)

REVENUES
  Net sales                              $43,469       $44,315
  Operating income                        13,849       12,932
  Other income                             4,680          884

Total Revenues                            61,998       58,131

COSTS AND EXPENSES
  Cost of goods sold                      30,413       30,098
  Operating expenses                      12,730       11,308
  Shipping and marketing                   6,811        6,814
  General and administrative               7,464        7,361
  Equity in losses of
    joint ventures                           513          558
  Interest                                 1,431        1,771

Total Costs and Expenses                  59,362       57,910

INCOME BEFORE INCOME TAXES                 2,636          221

INCOME TAXES                                 975           77

NET INCOME                                 1,661          144

RETAINED EARNINGS, BEGINNING OF PERIOD    45,715       46,552

RETAINED EARNINGS, END OF PERIOD          47,376       46,696

PER COMMON SHARE
  Net Income                             $   .92       $  .08


See accompanying Notes to Condensed Financial Statements.

                                
      MAUI LAND & PINEAPPLE COMPANY, INC. AND SUBSIDIARIES
               CONDENSED STATEMENTS OF CASH FLOWS
                           (UNAUDITED)



                                            Six Months Ended
                                         6/30/97       6/30/96
                                         (Dollars in Thousands)


Net Cash Provided By (Used In)
  Operating Activities                   $ (202)       $ 2,569

Investing Activities
  Purchases of property                  (5,760)       (3,465)
  Proceeds from disposal of property       3,380           526
  Contributions to joint ventures          (877)            --
  Proceeds from surrender of insurance policies--        3,125
  Other                                    (394)           553

Net Cash Provided by (Used In)
                 Investing Activities    (3,651)           739

Financing Activities
  Payments of long-term debt and capital
    lease obligations                    (5,032)       (7,669)
  Proceeds from long-term debt           10,355         5,050

Net Cash Provided By (Used In)
  Financing Activities                    5,323        (2,619)

Net Increase in Cash                      1,470           689

Cash at Beginning of Period                 453           166

Cash at End of Period                   $ 1,923       $   855


Supplemental Disclosure and Cash Flow Information - Interest (net
of amounts capitalized) of $1,669,000 and $1,989,000 was paid
during the six months ended June 30, 1997 and 1996, respectively.
Income taxes of $185,000 were paid during the six months ended
June 30, 1996.


See accompanying Notes to Condensed Financial Statements.


               MAUI LAND & PINEAPPLE COMPANY, INC.
                        AND SUBSIDIARIES
       NOTES TO CONDENSED FINANCIAL STATEMENTS (UNAUDITED)



1.   In the opinion of management, the accompanying condensed
  financial statements contain all normal and recurring adjustments
  necessary to present a fair statement of financial position and
  results of operations for the interim periods ended June 30, 1997
  and 1996.

2.   The Company's reports for interim periods utilize numerous
  estimates of production, general and administrative expenses, and
  other costs for the full year.  Consequently, amounts in the
  interim reports are not necessarily indicative of results for the
  full year.

3.   The effective tax rate for 1997 and 1996 differs from the
  statutory federal rate of 34% primarily because of the state tax
  provision and refundable state tax credits.

4.   Accounts and notes receivable are reflected net of allowance
  for doubtful accounts of $688,000 and $698,000 at June 30, 1997
  and December 31, 1996, respectively.

5.   Inventories as of June 30, 1997 and December 31, 1996 were
  as follows (in thousands):

                                          6/30/97     12/31/96

   Pineapple products
      Finished goods                       $11,228     $ 7,306
      Work in progress                       2,242       1,645
      Raw materials                            644         789
   Real estate held for sale                   339         339
   Merchandise, materials and supplies       6,695       6,405
   
   Total Inventories                       $21,148     $16,484

6.   Average common shares outstanding for the interim periods
  ended June 30, 1997 and 1996 were 1,797,125.

7.   In June of 1997, the sale of a 50% interest in the 12-acre
  parcel of property adjacent to the Kapalua Bay Hotel to YCP, the
  owners of the hotel,  was concluded.  The Company recognized a
  gain of $4.2 million from this transaction.  The Company and YCP
  also concluded a joint venture in the form of a Hawaii limited
  liability company, to own, develop and sell the parcel.

8.   Certain prior period amounts have been reclassified to
  conform with the presentation for the current period.




Item 2.   Management's Discussion and Analysis of Financial
          Condition and Results of Operations

RESULTS OF OPERATIONS

Consolidated

Consolidated net income for the second quarter of 1997 was
$1,557,000 compared to a net loss of $476,000 for the second
quarter of 1996.  Revenues for the second quarter of 1997 were
higher by 17% compared to the second quarter of 1996.

For the first half of 1997 net income was $1,661,000 compared to
$144,000 for the first half of 1996.  Revenues for the same
period increased by 7%.

Improved results for the second quarter and first half of 1997
principally reflects the sale of a 50% interest in the 12 acre
parcel adjacent to the Kapalua Bay Hotel in June of 1997.

Interest expense for the second quarter and first half of 1997
were lower by 10% and 19% respectively compared to the same
periods in 1996 due to lower average borrowings and to lower
average interest rates.

Pineapple

Revenue from Pineapple operations was $20 million for the second
quarter of 1997 compared to $19.7 million for the second quarter
of 1996.  For the first half of 1997 revenue was $38.4 million
compared to $38.7 million for the same period in 1996.  This
segment generated operating profits of $667,000 for the second
quarter of 1997 compared to $926,000 for the second quarter of
1996; and $1 million for the first half of 1997 compared to $1.6
million for the first half of 1996.

Higher average prices in 1997 contributed approximately $450,000
and $750,000 to revenue for the second quarter and first half of
1997 respectively.  However a change in product mix sold (fruit,
juice, concentrate) more than offset price increases for the
first half of 1997.  Higher average cost per case sold was also
responsible for the decline in operating profits for the second
quarter and first half of 1997.

Resort

Revenue from the Kapalua Resort was $12 million for the second
quarter of 1997 compared to $7.6 million for the second quarter
of 1996.  For the first half of 1997 revenue from this segment
was $21 million compared to $17 million for the same period in
1996.  Operating profit from the Resort segment was $3.7 million
for the second quarter of 1997 compared to $226,000 for the
second quarter of 1996.  For the first half of 1997 Resort
operating profit was $5.4 million compared to $2.2 million for
the first six months of 1996.

Revenue and operating profit for the second quarter and first six
months of 1997 includes $4.2 million from a land sale at Kapalua
(see Note 7 to Condensed Financial Statements).  Revenue from the
Kapalua Villa program increased in 1997 as a result of the higher
number of units in the program since September of 1996.  The
Resort's realty operations and Resort membership program also
reported significant revenue increases.  These increases were
offset by a planned reduction in ground lease rent and decreases
in other resort revenues related to the closure of the Kapalua
Bay Hotel.  The hotel closed on April 1, 1997 for major
restoration work and is scheduled to reopen in mid-August 1997.

Commercial & Property

Revenue from the Commercial & Property segment was $1.1 million
for the second quarter of 1997 compared to $1 million for the
second quarter of 1996.  For the first six months of 1997
revenues were $2.2 million compared to $2.4 million for the first
half of 1996.  The segment generated an operating loss of
$119,000 for the second quarter of 1997 compared to an operating
loss of $147,000 for the same period in 1996.  For the first six
months of 1997 these operations produced an operating loss of
$209,000 compared to an operating profit of $89,000 for the same
period a year earlier.

Revenue and operating profit for the first half of 1996 includes
approximately $500,000 from the sale of a land parcel.  Naplili
Plaza and the Company's Kaahumanu Center operations produced
improved results in the second quarter and first half of 1997
compared to the same periods in 1996.


LIQUIDITY AND CAPITAL RESOURCES

At June 30, 1997 the Company's total debt including capital
leases was $35.5 million, an increase of $5.3 million compared to
December 31, 1996.  The increase in debt was principally used to
finance capital expenditures and the Company's share of cash
calls by joint ventures.  Unused short- and long-term lines of
credit and equipment financing facilities were $18.7 million at
the end of the second quarter of 1997.

Consolidated capital expenditures are expected to be
approximately $10 million in 1997 of which approximately 40% are
for the replacement of existing equipment. The largest item in
capital expenditures for 1997 is $1.9 million for the Company's
cannery waste water disposal system which was completed and
operational as of June 23, 1997. The Company expects to finance
approximately $3.2 million of the 1997 capital expenditures with
capital leases or other equipment financing arrangements and the
remainder will be financed with operating cash flows and cash
from property disposals.

At June 30, 1997 the Company had commitments under letters of
credit totaling $2.1 million.

PART II   OTHER INFORMATION

Item 1.   Legal Proceedings

Antidumping Petition

As previously reported, on November 8, 1996, the United States
Court of International Trade ("USCIT") announced its decision
regarding appeals filed by the Thai respondents.  The USCIT
remanded certain issues back to the Department of Commerce for
recalculation.  The Company strongly disagrees with the USCIT's
decision on these issues which could substantially reduce the
duties being imposed on canned pineapple fruit from Thailand.  In
the second quarter of 1997, both the Company and the United
States Department of Commerce appealed the decision by the USCIT
to the United States Court of Appeals for the Federal Circuit.
The appeal process is expected to take nine to twelve months.
During this time and subject to periodic review, duties at the 
rates originally determined by the Department of Commerce will 
continue to be imposed on canned pineapple imported into the 
U.S. from Thailand.

Background information for this issue is discussed at Part I,
Item 3.A. of Form 10-K, for the year ended December 31, 1996.


Item 4.   Submission of Matters to a Vote of Security-Holders

On May 2, 1997, the annual meeting of the Company's shareholders
was held.  Proxies for the meeting were solicited pursuant to
Regulation 14A under the Securities Exchange Act of 1934.  The
number of outstanding shares as of March 7, 1997, record date for
the annual meeting was 1,797,125.  The results of the matters
voted upon were as follows:

Election of Class One directors for a three-year term:

                              Shares Voted For Shares Withheld

Randolph G. Moore             1,627,052        39,771
Fred E. Trotter III           1,627,051        39,772

Election of the firm Deloitte & Touche LLP as auditor of the
Company for the fiscal year 1997:

Shares voted for:           1,640,431
Shares voted against:          25,293
Shares abstained:               1,099

Item 6.   Exhibits and Reports on Form 8-K

(a)  Exhibits

(27)  Financial Data Schedule
   As of June 30, 1997 and for the six months then ended.*
          
*Filed Herewith


(b)  Reports on Form 8-K
There were no reports on Form 8-K filed for the period covered by
this report.



                            SIGNATURE



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







                         MAUI LAND & PINEAPPLE COMPANY, INC.




August 12, 1997           /S/   PAUL J. MEYER
Date                     Paul J. Meyer
                         Executive Vice President/Finance
                         (Principal Financial Officer)