Rent growth in Honolulu’s industrial market has cooled significantly over the past three years and now trails historical norms. As of the first quarter of 2026, rents turned negative for the first time since 2011, adjusting by -0.5% year over year.
Industrial rent growth in Honolulu turns negative for the first time in 15 years
Affordability constraints and slowing demand are largely to blame
CoStar Analytics
March 25, 2026 | 4:40 P.M.
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