Business owners in Haleiwa may have to close or move after learning about the spike in their rent.
HALEIWA, Hawaii (Island News) — Local businesses including shopping center tenants in Haleiwa are potentially in store for increasing rent prices.
“If mine goes up much more, I’m going to find alternative office space, I’m just not willing to pay too much more than I’m already paying,” said Erica Lehmkuhl with Seaside Realty.
“I think their trying to push out the small business owners in the older developments so they can bring in new development,” added Lehmkuhl.
Mike Biechler, North Shore Chamber of Commerce Chair/President stated, “If your rent goes up from 12% of your revenue to 18% of your revenue, that’s substantial and it could literally take away all your opportunity for profit.”
“Some areas have already been effected. The shopping centers in Haleiwa, that are largely, almost all of them …