Maui retail vacancies rise to 7.4% - Hawaii Business

The economic downturn caused midyear retail vacancies on Maui to rise to 7.74 percent, the highest since 2001, and created a 12.2 percent vacancy rate - the most in six years - for Maui's office sector, according to market reports released today by commercial real estate firm Colliers Monroe Friedlander. Full Story
CCC

Saskatoon, Canada

#1 Jun 12, 2009
Vacancies on the rise, and net rents on the rise...lol only in Hawaii..
Totally Agree

Oceanside, CA

#2 Jun 12, 2009
CCC wrote:
Vacancies on the rise, and net rents on the rise...lol only in Hawaii..
No, it is not only in Hawaii. It is basically everywhere. I just took a stroll at at mall in So Cal and I do a few empty spaces and what is very noticeable is that many stand alone kiosk have also shut down their operation. But if it is a glimmer of better things to come, my friend on Maui did get back to me last night and told me that there does seem be a little more activity in the Lahaina area which means the hotels in the Kaanapali area may hopefully have a few more visitors as well. Just need to stay on the positive side of things. The old adage - tough times don't last but tough people do.
huh

Waimanalo, HI

#3 Jun 12, 2009
How many losses do to the demise of the SF? I haven't been to the outer island in years. I did want to go camping on Maui using the SF.

Oh well, it's summer and I'm ready to go on vacation to the mainland next month.
Zit Oishi

San Bernardino, CA

#4 Jun 12, 2009
I wonder what the difference is between asking rental prices and net rental prices.

It looks like landlords are asking for less, and accepting more.

How humble of them to do so!
Reality Check

Puyallup, WA

#5 Jun 12, 2009
The economy was a house of cards built on borrowing. Now that people need to actually spend within their incomes, there's a lot more "adjusting" that needs to happen before we get back to normal. Boom and bust will always be the nature of an industry like tourism, which is a luxury good, and the first to go in bad economic times. We should aim to divesify so that tourism is no more than 25 percent of our economy.

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