HAWAII COMMERCIAL PROPERTY REPORT – 2025
Hawaii Commercial Real Estate Market Overview
When most people think of Hawaii, they picture beaches, sunsets, and luaus—but the Aloha State is also a prime commercial real estate market with diverse investment opportunities. Beyond tourism, Hawaii’s economy supports a range of industries, from agriculture and manufacturing to military operations and corporate headquarters.
Population & Urban Centers
Hawaii is home to approximately 1.4 million residents, with the capital city Honolulu housing over 350,000 people. Honolulu dominates the commercial property scene, offering abundant office buildings, retail centers, and industrial space. Other population hubs like Hilo, Kailua, and Kaneohe provide opportunities for multi-family, mixed-use, and smaller commercial investments.
Key Industries & Commercial Sectors
- Agriculture & Specialty Products – Pineapple, sugarcane, macadamia nuts, coffee, and sandalwood remain prominent. Industrial properties related to processing, distribution, and export are in steady demand.
- Tourism & Hospitality – Corporations such as Hawaiian Airlines and Outrigger Hotels and Resorts highlight the critical role of tourism. Retail, office, and hotel-related real estate offer consistent income streams in high-traffic areas.
- Military & Government – With a strong military presence, including bases on Oahu, Maui, and the Big Island, government-leased properties and defense-adjacent industrial space are stable and recession-resistant.
Notable Corporate Presence
Hawaii hosts the headquarters or regional offices of major companies including:
- Dole Food Company – processing and corporate offices
- Molokai Coffee & Mauna Loa Macadamia Nuts – agricultural-industrial space
- Castle & Cooke – real estate and development holdings
Investment Insights
- Honolulu offers high-density office, retail, and mixed-use opportunities, making it ideal for investors seeking strong occupancy rates and tourism-driven cash flow.
- Industrial properties on Oahu and the neighbor islands support Hawaii’s export economy, with consistent demand from agriculture, shipping, and military logistics.
- Tourism-related assets, including hotels and retail spaces in Waikiki and resort areas, provide high yield potential, especially with careful property management and market timing.
Hawaii’s commercial real estate market combines stable industrial sectors with high-demand tourism hubs, offering both resilient income properties and strategic long-term growth opportunities. Savvy investors can leverage the state’s unique economy, geographic constraints, and corporate presence to secure premium properties with strong ROI potential.
