The Oahu office market recorded a loss of 49,763 square feet of occupancy for the third quarter 2017, resulting in vacancy rates rising to 12.61% from 12.23% in the second quarter. Year-to-date net absorption declined to 33,679 square feet. 

Since the first quarter of 2014, the Oahu office market has fluctuated between a high of 13.78% and a low of 12.23% with nine of the last fifteen quarters reflecting positive occupancy. During this time period, the office market posted a gain of roughly 91,000 square feet of new tenancy for an average annual gain of roughly 24,000 square feet per year.