Despite the closure of more than 250,000 square feet of big box retailers such as Kmart and Sports Authority during the past year, Oahu’s resilient retail market was still able
to generate positive absorption. At year-end 2017, the retail market posted a solid gain of 453,754 square feet of occupancy growth. As a result, vacancy rates fell from 8.44% recorded at year-end 2016, to its current rate of 5.85%.
During the past three years, Ala Moana Center, International Market Place, and Ka Makana Ali`i generated more than 1.1 million square feet of new tenancy on Oahu. These thriving developments brought exciting new retailers such as Lucky Strike, Bloomingdale’s, Saks Fifth Avenue, The Street, a Michael Mina Social House, Lindbergh, and Limon Rotisserie to our local marketplace.
Oahu Retail Market Report Q4 2017
Author: Mike Hamasu
Date Published: 02/15/2018