Component of Rental Income and Expense (Notes)

12 Months Ended

Dec. 31, 2021

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): 

    

	Year Ended December 31,
	2021		2020		2019
Minimum rents
Office	$	180,704	$	170,853	$	136,118
Retail	89,326		82,176		99,601
Multifamily	48,654		47,071		47,448
Mixed-Use	9,901		7,302		15,702
Percentage rent	4,337		3,516		2,476
Hotel revenue	24,935		17,209		40,297
Other	2,351		2,185		2,223
Total rental income	$	360,208	$	330,312	$	343,865

Minimum rents include $14.0 million, $18.9 million and $3.2 million for the years ended December 31, 2021, 2020 and 2019, respectively, to recognize minimum rents on a straight-line basis. In addition, minimum rents include $3.2 million, $3.9 million and $3.8 million for the years ended December 31, 2021, 2020 and 2019, respectively, to recognize the amortization of above and below market leases.

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

 

	Year Ended December 31,
	2021		2020		2019
Rental operating	$	41,488	$	38,194	$	38,331
Hotel operating	17,518		13,691		24,522
Repairs and maintenance	18,113		17,813		17,035
Marketing	1,779		2,023		2,538
Rent	4,023		3,955		3,372
Hawaii excise tax	2,792		2,479		4,160
Management fees	1,267		1,023		2,009
Total rental expenses	$	86,980	$	79,178	$	91,967