The typical asking rate per listing is in the $0's per square foot per year. The Waikiki submarket is seeing a decline in rates. In the last 3 months, the median rate fell $55 per sqft per year. That's a 100% decline in rent.
In the last 90 days, 10 listings have come on the market, which means leases most likley are going fast. You'll want to be prepared to make an offer immediately. 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 1,780 sqft. Most buildings in this area are around 7 stories. Most buildings in this area were built in 1977 and are Class A.
Not much of the real estate is used for commercial space, so it might be hard to find office space. Education is the dominant industry in this region. Most of the folk of Waikiki work from home. Commuting close to 30 minutes a day is the norm for those who opt to reside in this part of town.