Collier’s International Hawaii (CIH) recently reported Oahu’s retail vacancy rate is below the national average.
Oahu had a vacancy rate of 2 percent last quarter, well below the 10 percent national average.
After putting retail projects on hold for most of the year, developers are now starting to break ground on more shopping centers in the area.
CIH attributes the lower vacancy rates to an increase in tourism over the last several months.
Earlier this year, Oahu had more than $11 billion in retail sales.
Pacific Business News recently reported the state had a record-breaking vacation season, after a stagnant previous year.