Hawaii’s retail vacancy rate rose to 6 percent statewide during the second quarter, driven by a loss of 7,812 square feet in occupancy, while the Waikiki market’s vacancy rate rose to 5.6 percent as retail in the state’s largest tourism district posted its third consecutive quarter of decline, according to quarterly market reports by CBRE.
Year-over-year negative net absorption, or the amount of occupancy lost, in Waikiki nearly tripled when compared with the second quarter of last year, CBRE…
