In the Q2 2024 Oahu Industrial Market Report: Our vacancy rate has nudged up a bit, but it's negligible. A bit of supply on the horizon, but a very strong industrial sector should absorb it before it has a chance to affect vacancy.

Please find the enclosed 2Q 2024 UHERO Report. I believe this data to be useful as we plot and opine on economic growth or stagnation in the Hawaiian Islands.

In the Q1 2024 Oahu Industrial Market Report: We added a bit of supply, but it’s negligible. Our vacancy rate still remains under 1% with a bit of supply on the horizon, but nothing that will move us above 1% even if it remained vacant.

An update from our Q1 2024 Oahu Industrial Market Report: We added a bit of supply, but it's negligible. Our vacancy rate still remains under 1% with a bit of supply on the horizon, but nothing that will move us above 1% even if it remained vacant.

I have been giving thought to our sub-1% industrial vacancy rate, the cost of construction, the amount of industrial leasehold property, the cost of land, and what is in the development pipeline vs what will be needed to sustain economic activity in Hawaii.

Insights from the Q4 2023 Investment Market Report: Transaction velocity and transaction counts are down from previous years as is expected in the interest rate environment that we are in. 

Resources to ponder over the President’s Day holiday weekend, including commercial real estate and its impact on the economy, and vice versa. Also see the Q4 2023 US Industrial Market Outlook.

We will soon issue our end-of-year Investment Market Report which showed a transaction volume in dollars similar to our long-term average of $2 billion, despite interest rates having risen more than 300 basis points. I was surprised by that resiliency.

From the Q3 2023 Oahu Industrial Market Report, which discusses the overall health of the industrial sector in Hawaii, inflation, the effect of the Lahaina fires on industrial real estate, and OPEX.

I share your sadness and shock regarding the Maui fires. Lahaina is a special place for me and my family and we are doing what we can through our nonprofit positions and networks to assist.