Hawaii Retail Figures Q4 2023

February 7, 2024 4 Minute Read

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Vacancy rate increases for the 4th quarter of 2023

Hawaii’s retail vacancy rate increases from 5.4% for Q3 2023 to 5.9% for Q4 2023.

Net absorption is negative for the 4th quarter but positive for 2023

Statewide net absorption is negative 25,026 SF for Q4 2023, but positive 91,951 SF for 2023.

Average asking lease rents decreased while CAM also decreased

The weighted average asking lease rents across Hawaii decreased from $4.75 NNN in Q3 2023 to $4.67 NNN in Q4 2023. The average CAM decreased from $1.21/SF to $1.10/SF.