Figures

Hawaii Office Figures Q2 2024

July 18, 2024 5 Minute Read

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Most submarkets experienced negative net absorption in Q2 2024

‒The office sector across Oahu experienced 11,207 SF of negative net absorption.

Change in office inventory impact vacancy and availability rates

‒The office vacancy rate decreased to 11.3% in Q2 2024, and the availability rate decreased to 13.7%, mostly due to a change in the overall office base.

Asking rents increases while operating expenses held steady

‒Average gross asking rents increased from $3.23 in Q3 2024 to $3.36 in Q2 2024, while OpEx held at $1.62.