According to a report released by Colliers International, a commercial real estate firm, approximately 13 percents of office spaces remained vacant in 2011 for the island of Oahu. This represents approximately 2 million square feet of vacant space out of the 15.6 million available square feet of office space. Office vacancies have been increasing for the last five years, and have hit a 9 year high in terms of percentage. Colliers International's report warns that the number may continue to increase for most of 2012, but things may pick up by the end of the year.
