Figures

Honolulu Office Figures 2024 Q3

October 21, 2024 4 Minute Read

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Most submarkets experienced negative net absorption in Q3 2024

‒The office sector across Oahu experienced 131,405 SF of negative net absorption.

 

Vacancy and Availability rates increase across Oahu

‒The office vacancy rate increased to 12.1% in Q3 2024, and the availability rate decreased to 14.0%, largely due to negative absorption in Kapiolani.

 

Overall Asking Rents Increase

‒Average gross asking rents increased from $3.36 in Q2 2024 to $3.41 in Q3 2024, while OpEx increased from $1.62 to $1.64