• The vacancy rate on Oahu increased quarter over quarter by 110 basis points (bps) to 11.1% in Q2.
  • Both the overall average gross asking rate and operating expenses remained unchanged at $3.09 and $1.51 per sq. ft., respectively.
  • COVID-19 forced a nationwide shutdown of most economic activity and the economic fallout proved severe, pushing Hawaii's unemployment rate above 22.0% in May.