An estimated 7.6 percent to 7.7 percent of office space on the Island is vacant, pushing rents higher and making it tougher for companies to find room to grow in Hawai'i's robust economy, according to reports by three local commercial real estate firms.

Colliers Monroe Friedlander said the equivalent of a 14-story office building, or 143,000 square feet, has been filled since January, putting the vacancy rate at 7.7 percent, the lowest rate since 1991. That compared with 8.6 percent at the end of last year and a recent high of 13.8 percent in mid-2003, Colliers said.

The firm said average monthly office rent per square foot of space has increased by 3.6 percent in the last six months, from $2.36 to $2.45.

Another firm, PM Realty Group, said expanding Hawai'i companies are primarily fueling the record pace for office space leasing, though new businesses moving into the market are also a factor.

CB Richard Ellis Hawai'i Inc. said O'ahu's office market already had the fourth-lowest vacancy rate among the nation's major office markets during the first quarter with an 8.7 percent vacancy rate, which it said declined to 7.6 percent in the second quarter to possibly move O'ahu up on the list of tightest markets.

Honolulu ranks 5th for natural disaster risk

Honolulu's vulnerability to hurricanes, storm surges and tsunamis earned it a 5th place ranking on a new list of major U.S. cities at risk from natural disasters.

The city with the highest disaster risk was Miami, followed by New Orleans, Oakland and San Francisco, according to a report published by SustainLane, SustainLane.com, a nonpartisan online community site for healthy, sustainable living.

The list was drawn up based on SustainLane primary research and information from, Risk Management Solutions, a leading provider of products and services for the quantification and management of catastrophe risks.

Nominees sought for Health Workplace Award

The Hawaii Psychological Association in conjunction with the American Psychological Association are seeking submissions for the sixth annual Healthy Workplace Award.

The goal of the statewide award is to promote psychological health in the workplace and to recognize excellence by giving an award in each of the following five categories, the organizations said.

Submissions are being accepted in the following categories: large business, small business (less than 100 employees), nonprofit organization, government agency and military unit. The deadline for applications is Aug. 15.

Applications are available on-line at www.hawaiipsych.org, or by calling HPA at 521-8995.