Retail space remains scarce in Honolulu, something unlikely to change anytime soon

Healthy demand, limited new supply and shrinking inventory have kept Honolulu retail space scarce. Roughly half of the metropolitan area's 12 markets report availability rates below 3%. Conversions and demolitions of properties have reduced retail inventory during the past decade, strengthening fundamentals. Since 2015, the total square footage of retail space in the market has declined by 240,000 square feet.