Honolulu Office Figures Q4 2022

Honolulu sees first quarter of negative net absorption in 2022

• 2022 saw 26,465 sq. ft. of negative Net Absorption, snapping a six-quarter streak of positive absorption dating back to Q3 2021.

Vacancy Rates & Availability Rates on the rise

• The Vacancy rate and Availability rate both increased slightly in Q4 across all submarkets.

Asking Rents tick down

• The average gross asking rents stabilized decreasing slightly from $3.07 in Q3 to $3.05 in Q4, still above $3.03 from the start of the year.