Honolulu Office Rent Price & Sales Report

Highlights

  • The average rent for office space in Honolulu is $22.65 per square foot, 16.47% lower compared to the previous year.
  • The market’s vacancy rate stands at 6.21%, higher than the state average of Hawaii, which is 6.21%.

2025 Office Space Rent & Sales

  • $22.65 2025 Avg. Asking Rent
  • -16.47% Y-o-Y Avg. Asking Rent Change
  • 6.21% 2025 Office Vacancy Rate
  • $86.5M2025 Total Office Sales
  • $202.21Avg. Sale Price/SF

What is the average asking rent price for office space in Honolulu?

Average asking rents for office space here stand at $22.65 per square foot. The local office market recorded an average vacancy rate of 6.21% in 2025, unchanged from 6.21% in 2024.

Office transactions in the local market in 2025 totaled a sales volume of $86.5M across 3 sales. These transactions commanded an average sale price per square foot of $202.21.

Honolulu, HI Office Asking Rents by Class

What is the average office rent per square foot by property class in HI?

  • Avg. Asking Rent Class A & A+$19.59
  • Avg. Asking Rent Class B$36.18

Honolulu, HI Office Indicators by Submarket

In 2025, the submarket with the lowest office vacancy rate in Honolulu was Urban Honolulu - Northwest at 5.05%. Meanwhile, the highest office vacancy rate in the market was 6.44%, recorded in Urban Honolulu - CBD.
Submarket Asking Rents Vacancy Rates
Urban Honolulu - Northwest $53.94 5.05%
Urban Honolulu - CBD $19.79 6.44%
Data provided by Yardi Research

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2025 Office Sales Volume

  • $202.212025 Avg. Price per SF
  • -5.02%Y-o-Y Avg. PpSF Change
  • $86.5M2025 Office Sales Volume
  • 32025 Number of Transactions

What is the average sale price per square foot for office space in Honolulu?

Average sale prices for office space in this market recorded a -5.02% change in 2025 compared to the previous year.
Office transactions recorded in the market in 2025 averaged $202.21 per square foot. For comparison, the statewide Hawaii average during the same time period stood at $202.21 per square foot, while the national average was $182.48 per square foot.

Honolulu, HI Sale Price per SF Trend

  • Honolulu Avg. Sale Price per SF in 2025$202.21
  • Hawaii Avg. Sale Price per SF in 2025$202.21

What was the total office sales volume in Honolulu in 2025?

The local office market recorded 3 deals in 2025, adding up to a yearly sales volume of $86.5M.

  • Honolulu, HI Total Office Sales Volume in 2025 $86.5M
  • Honolulu, HI Total Number of Office Sales Closed in 2025 3
Data provided by Yardi Research

Office Construction in Honolulu, HI

What are the largest recent office completions in Honolulu?

The largest recent office completion here is Bishop Square - Pauahi Tower at 460,124 square feet, completed in 1983. The next largest completions are Hawaii Kai Towne Center and Pacific Guardian Center - Makai Tower.

Office building Address SF Completed
Harbor Court 55 Merchant Street, 96813 214,934 1994
Pacific Park Plaza 711 Kapiolani Blvd, 96813 254,639 1988
Hawaii Kai Towne Center 333 Keahole Street, 96825 458,696 1987
Bishop Square - Pauahi Tower 1003 Bishop Street, 96813 460,124 1983
Pacific Guardian Center - Makai Tower 733 Bishop Street, 96813 281,851 1982
Rarely Available Fee Simple Opportunity within Manoa Valley | 2830 Kaonawai Place 2830 Kaonawai Pl, 96822 798 1980
Liliha Professional Building 1520 Liliha Street, 96817 36,266 1979
Pioneer Plaza 900 Fort Street Mall, 96813 260,000 1978
Prime Investment Opportunity | For Sale | Kapiolani Business Plaza 1580 Makaloa St, 96814 87,485 1978
High Visibility Corporate Headquarters Office Space for Lease | 465 Kapahulu 614 Kapahulu Ave, 96815 45,959 1977
Data provided by Yardi Research

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Disclaimer

All information on this page is based on city-level data that includes properties equal to or larger than 25,000 square feet.
Averages were calculated based on values dated between January 1st and December 31st 2025. Construction pipeline data represented herein is valid as of January 2026.

While every effort was made to ensure the accuracy of the data presented in this report, the information is provided “as is” and neither CommercialCafe nor Yardi Research Data can guarantee that the information provided is complete.