COMPONENTS OF RENTAL INCOME AND EXPENSE

6 Months Ended

Jun. 30, 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 June 30,				Six Months Ended June 30,
	2022		2021		2022		2021
Lease rental income
Office	$	48,949	$	43,012	$	96,999	$	86,374
Retail	23,286		21,575		47,327		42,428
Multifamily	13,167		11,763		26,083		23,515
Mixed-use	2,814		3,438		5,614		4,233
Percentage rent	756		1,098		1,238		1,624
Hotel revenue	9,414		6,191		17,469		9,462
Other	630		562		1,272		1,133
Total rental income	$	99,016	$	87,639	$	196,002	$	168,769

Lease rental income includes $0.1 million and $1.9 million for the three months ended June 30, 2022 and 2021, respectively, and $3.8 million and $7.0 million for the six months ended June 30, 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 $0.7 million for the three months ended June 30, 2022 and 2021, respectively, and $1.7 million and $1.5 million for the six months ended June 30, 2022 and 2021, respectively.

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

	Three Months Ended June 30,				Six Months Ended June 30,
	2022		2021		2022		2021
Rental operating	$	11,379	$	9,655	$	22,523	$	19,151
Hotel operating	6,474		4,134		12,122		6,858
Repairs and maintenance	5,309		4,029		10,069		7,771
Marketing	469		311		988		704
Rent	781		1,158		1,590		2,310
Hawaii excise tax	923		634		1,732		1,166
Management fees	518		283		974		490
Total rental expenses	$	25,853	$	20,204	$	49,998	$	38,450