On average, listings lease in the $20's per square foot per year. The Makiki - Lower Punchbowl - Tantalu region is experiencing a decrease in rates. In the last 3 months, the median rate decreased $31 per sqft per year. That's a 60% decline in rent.
In the last 90 days, 9 listings have been made available, which means listings are probably leasing quickly. You'll want to be prepared to tour spaces as quick as possible. There aren't many listings below 2,000 square feet posted, so finding a space for a small business might be tough.
The standard measurement for office space in this area is around 640 sqft. Most buildings in this region are approximately 3 floors. Most buildings in this area were built in 1967 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 region. Most of the folk 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.