COMPONENTS OF RENTAL INCOME AND EXPENSE

3 Months Ended

Mar. 31, 2017

Operating Leases, Income Statement, Lease Revenue [Abstract]

COMPONENTS OF RENTAL INCOME AND EXPENSE

COMPONENTS OF RENTAL INCOME AND EXPENSE

The principal components of rental income are as follows (in thousands): 

	Three Months Ended March 31,
	2017		2016
Minimum rents
Retail	$	18,534	$	18,398
Office	23,122		22,468
Multifamily	7,235		5,839
Mixed-use	2,561		2,655
Cost reimbursement	7,888		7,642
Percentage rent	455		440
Hotel revenue	9,865		9,418
Other	380		385
Total rental income	$	70,040	$	67,245

Minimum rents include $0.2 million and $0.1 million for the three months ended March 31, 2017 and 2016, respectively, to recognize minimum rents on a straight-line basis. In addition, net amortization of above and below market leases included in minimum rents were $0.9 million and $0.8 million for the three months ended March 31, 2017 and 2016, respectively.

The principal components of rental expenses are as follows (in thousands): 

	Three Months Ended March 31,
	2017		2016
Rental operating	$	8,073	$	7,382
Hotel operating	6,551		5,776
Repairs and maintenance	2,531		2,566
Marketing	436		485
Rent	757		750
Hawaii excise tax	1,025		1,019
Management fees	486		475
Total rental expenses	$	19,859	$	18,453