Operating Leases (Tables)

12 Months Ended

Dec. 31, 2016

Current minimum future rentals under the leases

Current minimum annual payments under the leases are as follows, as of December 31, 2016 (in thousands):



2017	$	3,097	⁽¹⁾
2018	3,167
2019	3,240
2020	3,315
2021	3,353		⁽²⁾
Thereafter	24,823
Total	$	40,995


(1)	Lease payments on the Waikiki Beach Walk lease will be equal to fair rental value from March 2017 through the end of the lease term. In the table, we have shown the lease payments for this period based on the stated rate for the month of February 2017 of $61,690.


(2)	Lease payments on The Landmark at One Market lease will be equal to fair rental value from July 2021 through the end of the options lease term. In the table, we have shown the option lease payments for this period based on the stated rate for the month of June 2021 of $217,744.

As of December 31, 2016, minimum future rentals from noncancelable operating leases before any reserve for uncollectible amounts and assuming no early lease terminations, at our office and retail properties and the retail portion of our mixed-use property are as follows for the years ended December 31 (in thousands):



2017	$	169,775
2018	142,294
2019	109,111
2020	85,096
2021	64,793
Thereafter	170,658
Total	$	741,727