Hawaii Retail Figures Q3 2023
October 16, 2023 5 Minute Read
Vacancy rate drops further for the 3rd quarter of 2023
‒Hawaii’s retail vacancy rate drops from 6.1% for Q2 2023 to 5.4% for Q3 2023.
Net absorption turns negative
‒Statewide net absorption decreased from 124,577 SF of positive absorption the prior quarter to negative 24,954 SF this quarter.
Average asking lease rents decreased while CAM increased
‒The weighted average asking lease rents across Hawaii decreased from $4.99 NNN in Q2 2023 to $4.75 NNN in Q3 2023. The average CAM increased from $1.13/SF to $1.21/SF.