Hawaii Industrial Figures Q3 2023
October 16, 2023 5 Minute Read
Availability rates drops lower
‒Statewide availability rate drops to a low of 1.5%, with Maui at its lowest of 0.4%.
Low availability leads to low net absorption in Q3 2023
‒Hawaii’s industrial sector experienced 37,466 SF of positive net absorption for Q3 2023, compared to the positive net absorption of 3,380 SF in Q2 2023.
Average net asking lease rates increased while operating expenses increased slightly
‒Average net asking rate statewide increased from $1.45/SF the prior quarter to $1.48/SF this quarter. Average operating expenses increased slightly to $0.43/SF.