The At mid-year 2018, the Oahu retail market posted a healthy gain of 222,919 square feet of occupancy. Vacancy rates dropped this quarter to 6.09% from the peak in 2016 of 8.36%. The majority of these tenancy gains occurred at regional malls. Ala Moana Center and Ka Makana Ali’i generated a combined 172,180 square feet of net absorption during the first six months of this year. The regional mall vacancy rate declined from 5.91% recorded at year-end 2017 to 2.78% at the end of 2Q2018. Fueled by new retail development and mall expansion, regional centers garnered more than 1.3 million square feet of net absorption during the past three and a half years.