By Rick Blangiardi
Did you know there are almost 90,000 office jobs in Hawaii. But that brings white-collar employment back to only where it was in 2006.
Office vacancy has stopped falling, but it's still above 13 percent.
In downtown Honolulu it's still higher than that. I'm sure we'll read about a rise in office occupancy as a sign of our recovering economy. But some companies learned during the lean times they can do quite well with smaller offices.
Those companies will expand in other ways, probably with stronger sales forces in the field.
Landlords that expect to charge the same tenants even more rent may be in for a surprise.
We're still seeing some small business owners choosing to retire and close rather than pay exorbitant rent. Every downturn teaches companies lessons on how to run smarter.
But, for landlords, the lesson may be learned now, during this economic recovery.