Figures

Honolulu Office Figures Q1 2024

May 2, 2024 5 Minute Read

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Most submarkets experienced negative net absorption in Q1 2024

‒The office sector across Oahu experienced 41,908 SF of negative net absorption, with all but two submarkets experiencing negative net absorption this quarter.

Both vacancy rate and availability rate increased in Q1 2024

‒The office vacancy rate increased to 11.7% in Q1 2024, and the availability rate increased to 13.8%.

Asking rents increased slightly

‒Average gross asking rents increased from $3.22 in Q4 2023 to $3.23 in Q1 2024, while OpEx decreased to $1.62/SF.