Downtown Honolulu office vacancy hits record high as landlords look to parking for more income


The office vacancy rate in Downtown Honolulu reached an all-time high of 19.4 percent in the second quarter, and landlords looking to increase income are boosting parking rates for downtown spots, according to the second quarter office market report by CBRE.

The second quarter vacancy rate for downtown, which accounts for 45 percent of the Oahu office market, surpassed the previous high of 18.7 percent in the quarter, the report said.

The islandwide vacancy rate was 15.6 percent for the quarter,…

Previous Millennials discuss why they cannot afford to buy homes
Next Luxury hotel, 200 apartments and retail coming to site of former Ambassador Hotel downtown

No Comment

Leave a reply

Your email address will not be published. Required fields are marked *