Most listings are in the $30's per square foot per year. The Makiki - Lower Punchbowl - Tantalu submarket is going through a a boost in rates. In the last 3 months, the median rate went up $32 per sqft per year.
In the last 90 days, 9 listings have been made available, which means new availabilities are probably leasing quickly. You'll want to be prepared to make an offer immediately. About 67% of the available leases in the Makiki - Lower Punchbowl - Tantalu are subleases, so you might be able to find a shorter term or below market rent. There aren't many listings below 2,000 square feet available, so finding a space for a small business might be tough.
Even though the median size is 3,940 sqft, there are still 0 new availabilities below 2,000 sqft. Most properties in this area are around 3 stories. Most buildings in this area were built in 1976 and are Class B.
Not much of the real estate is used for commercial space, so it might be hard to find office space. Finance and insurance are the dominant industries in this area. Most of the occupants of Makiki - Lower Punchbowl - Tantalu work from home. Commuting more than an hour and a half a day is the norm for those who opt to reside in this part of town.