COMPONENTS OF RENTAL INCOME AND EXPENSE

3 Months Ended

Mar. 31, 2023

Leases [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,
	2023		2022
Lease rental income
Office	$	49,326	$	48,050
Retail	24,678		24,041
Multifamily	14,517		12,916
Mixed-use	2,950		2,800
Percentage rent	555		482
Hotel revenue	10,018		8,055
Other	666		642
Total rental income	$	102,710	$	96,986

Lease rental income includes $2.2 million and $3.7 million for the three months ended March 31, 2023 and 2022, 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, 2023 and 2022, respectively.

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

	Three Months Ended March 31,
	2023		2022
Rental operating	$	12,440	$	11,144
Hotel operating	6,917		5,648
Repairs and maintenance	5,235		4,760
Marketing	508		519
Rent	883		809
Hawaii excise tax	971		809
Management fees	552		456
Total rental expenses	$	27,506	$	24,145