2020 Office Space Rent & Sales
- $37.95 2020 Avg. Asking Rent
- 10.83 % 2020 Office Vacancy Rate
Honolulu office price per square foot in 2020 was $37.95 on average. The local office market recorded an average vacancy rate of 10.83 % across all asset classes combined.
Average Rent by Office Class
2020 Average Office Rent per Square Foot
- Honolulu Class A Office Space$40.94
- Honolulu Class B Office Space$34.50
- Hawaii Class A Office Space$42.51
- Hawaii Class B Office Space$34.55
Honolulu, HI Office Asking Rents by Class
2020 Office Vacancy Rates in Honolulu
|Submarket||Asking Rents||Vacancy Rates|
|Kapiolani - King||$52.42||15.08%|
|Urban Honolulu - CBD||$32.13||9.80%|
2020 Office Construction in Honolulu, HI
- Honolulu, HI Total Sqft completed in 2020
During 2020, square feet of new office space were delivered across the market. At the close of 2020, the Honolulu office inventory included buildings equal to or larger than 25,000 square feet, which comprised square feet of office space.
|American Savings Bank Headquarters||300 North Beretania Street, 96817||166,000||2019|
|Hale Pawa'a Professional Building||1401 South Beretania Street, 96814||115,920||2009|
|1029 Kapahulu Avenue||1029 Kapahulu Avenue, 96816||34,313||2006|
|Kuaikini Physicians Tower||405 North Kuakini Street, 96817||80,844||1998|
|2226 Liliha Street||2226 Liliha Street, 96817||101,976||1997|
|2019 South King Street||2019 South King Street, 96826||42,332||1997|
|Dole Cannery||650 Iwilei Road, 96817||649,706||1996|
|First Hawaiian Center||999 Bishop Street, 96813||420,000||1996|
|Kaimuki Plaza Building||3465 Waialae Avenue, 96816||61,669||1995|
|Harbor Court||55 Merchant Street, 96813||214,934||1994|
Worth noting among recent office completions on the Honolulu market is American Savings Bank Headquarters, which is currently the largest new office development in the city, at 166,000 square feet.
This market stats report is based on analysis of city-level data that includes office properties equal to or larger than 25,000 square feet in size. Averages were calculated based on values dated January 1st 2020 through December 31st 2020. Construction pipeline data represented herein is valid as of April 2021. The information on this page was compiled using data provided by CommercialEdge, a market intelligence solution which offers comprehensive real market knowledge on all Honolulu commercial properties sized 25,000 square feet or larger.
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 CommercialEdge can guarantee that the information provided is complete.