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Posted in Uncategorized on Aug 4th, 2009
Hawaii Real Market Lags Behind National Trends
Honolulu’s retail market posted 74,282 square feet of lost occupancy over the past six months as vacancy rates rose to 3.98%. This is a 75 basis point increase over the year-end 2008 island-wide vacancy rate of 3.23% and is a five year high. Click here to read the full [...]
Posted in Uncategorized on Aug 4th, 2009
Island-wide Vacancy Rates Hit Double-Digits
After five years of single-digit figures, the second quarter of 2009 saw the return of office vacancy rates above 10% for the island of Oahu. The recessionary environment has taken a toll on many businesses resulting in office downsizing, consolidation, closure and the postponement of expansion plans. Click here to read [...]
Posted in Uncategorized on Aug 4th, 2009
Market Downturn Persists
At mid-year 2009, the industrial market posted six months of accumulated negative net absorption of 314,091 square feet. Vacancy rates rose to 5.13% from 4.36% at year-end 2008. After a dramatic loss of occupancy totalling 293,572 square feet during the first quarter of 2009, the second quarter posted a only an additional 20,519 [...]
Posted in Uncategorized on Feb 25th, 2009
Year-end Retail Market Remains Steadfast
Contrary to the barrage of poor economic news, Honolulu’s retail market appeared relatively unscathed through year-end. In fact, most markets would envy the perofrmance that we’ve had with solid positive absorption, low vacancy rates and rising rents.
The Honolulu retail market posted more than 500,000 square feet of positive absorption in 2008. [...]
Posted in Uncategorized on Feb 25th, 2009
Office Sector Continues to Soften
The Honolulu office market posted its sixth consecutive quarter of negative net absorption resulting in a steady increase to the island’s vacancy rate that has risen from a decade low of 6.5% in mid-2007 to 8.6% currently. Closely corresponding to this 18-month time period, Honolulu’s unemployment rate rose from 1.8% for [...]
Posted in Uncategorized on Feb 25th, 2009
Industrial Condominium Projects Boost Vacancy
Since mid-year 2007, the Honolulu industrial marketplace consistently posted negative net absorption. More than 550,000 square feet of negative absorption was recorded for 2008. This jump in vacant space was the direct result of the delivery of three industrial condominium projects; Kapolei Spectrum, Waipio Business Center and Kapolei Kai. Click here [...]
Posted in Uncategorized on Jan 28th, 2009
U.S. Office Market Shows Further Signs of Weakening as Economy Contracts
For the fourth consecutive quarter, the U.S. office market gave back space during the fourth quarter, helping to push the national vacancy rate up for the fifth consecutive three-month period. A modest supply of office development also ocurred during the fourth quarter, putting upward pressure [...]