COMPONENTS OF RENTAL INCOME AND EXPENSE

3 Months Ended

Mar. 31, 2022

Revenue Recognition and Deferred 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,
	2022		2021
Lease rental income
Office	$	48,050	$	43,362
Retail	24,041		20,853
Multifamily	12,916		11,752
Mixed-use	2,800		795
Percentage rent	482		526
Hotel revenue	8,055		3,271
Other	642		571
Total rental income	$	96,986	$	81,130

Lease rental income includes $3.7 million and $5.5 million for the three months ended March 31, 2022 and 2021, respectively, to recognize lease rental income on a straight-line basis. In addition, net amortization of above and below market leases included in lease rental income was $0.8 million and $0.8 million for the three months ended March 31, 2022 and 2021, respectively.

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

	Three Months Ended March 31,
	2022		2021
Rental operating	$	11,144	$	9,496
Hotel operating	5,648		2,724
Repairs and maintenance	4,760		3,742
Marketing	519		393
Rent	809		1,152
Hawaii excise tax	809		532
Management fees	456		207
Total rental expenses	$	24,145	$	18,246