Hawaii Industrial Figures Q4 2023

February 6, 2024 4 Minute Read

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Availability rates decreased further

Statewide availability decreases further from 1.5% the previous quarter to 1.4% in Q4 2023.

Despite low availability, net absorption increased in Q4 2023

Hawaii’s industrial sector experienced 68,878 SF of positive net absorption for Q4 2023, compared to the positive net absorption of 37,466 SF in Q3 2023.

Average net asking lease rates increased slightly while operating expenses remain the same

Average net asking rate statewide increased slightly to $1.49/SF this quarter. Average operating expenses held steady at $0.43/SF.