Honolulu Office Rent Price & Sales Report

2024 Office Space Rent & Sales

  • $27.12 2024 Avg. Asking Rent
  • 9.81% 2024 Office Vacancy Rate

Honolulu office price per square foot in 2024 was $27.12 on average. The local office market recorded an average vacancy rate of 9.81% across all asset classes combined.

See how this market compares to the national average: U.S. office space rent & sales.

Average Rent by Office Class

2024 Average Office Rent per Square Foot

  • Hawaii Class A & A+ Office Space$35.88
  • Hawaii Class B Office Space$27.02
  • Hawaii Class C Office Space$37.47

Honolulu, HI Office Asking Rents by Class

2024 Office Vacancy Rates in Honolulu

Submarket Asking Rents Vacancy Rates
Waikiki $42.00 4.89%
Urban Honolulu - South $40.50 49.03%
Urban Honolulu - Northwest $38.38 10.11%
Urban Honolulu - CBD $22.25 9.79%
Data provided by Commercial Edge
Submarket differences in factors such as property mix, degree of accessibility, and availability of amenities influence not only variation in office rent price, but also in vacancy rates. The overall office vacancy rate on the Honolulu market was 9.81% in 2024. Looking at the market stats on a more granular level, data shows that the lowest office vacancy rate in Honolulu was 4.89% in the Waikiki submarket, while the highest office vacancy in the market was 49.03%, recorded in Urban Honolulu - South.

Office Spaces for Rent in Hawaii

Coworking Spaces in Hawaii

2024 Office Construction in Honolulu, HI

Largest Office Properties Recently Completed in Honolulu
Office building Address SF Completed
2226 Liliha Street 2226 Liliha Street, 96817 101,976 1997
Harbor Court 55 Merchant Street, 96813 214,934 1994
801 Dillingham Blvd 801 Dillingham Blvd, 96817 52,043 1993
For Sale Fee Simple - Landmark Office Building in the Kapiolani Corridor (1601 Kapiolani Blvd) 1601 Kapiolani Blvd, 96814 74,792 1991
Bishop Square - Pauahi Tower 1003 Bishop Street, 96813 460,124 1983
Liliha Professional Building 1520 Liliha Street, 96817 36,266 1979
High Visibility Corporate Headquarters Office Space for Lease | 465 Kapahulu 614 Kapahulu Ave, 96815 45,959 1977
614 Kapahulu Ave (Sale) 614 Kapahulu Ave (Sale), 96815 32,723 1977
Finance Factors Center 1164 Bishop Street, 96813 190,800 1975
Bishop Square - American Savings Bank Tower 1001 Bishop Street, 96813 448,141 1972

Worth noting among recent office completions on the Honolulu market is 2226 Liliha Street, which is currently the largest new office development in the city, at 101,976 square feet.

Data provided by Commercial Edge

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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 2024 through December 31st 2024. Construction pipeline data represented herein is valid as of February 2025. 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.