COMPONENTS OF RENTAL INCOME AND EXPENSE (Tables)

12 Months Ended

Dec. 31, 2023

Leases [Abstract]

Summary of Principal Components of Rental Income

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

    

	Year Ended December 31,
	2023		2022		2021
Minimum rents
Office	$	200,870	$	196,793	$	180,704
Retail	99,504		95,574		89,326
Multifamily	57,643		53,816		48,654
Mixed-Use	12,194		11,590		9,901
Percentage rent	3,625		4,004		4,337
Hotel revenue	42,881		38,115		24,935
Other	2,656		2,615		2,351
Total rental income	$	419,373	$	402,507	$	360,208

Summary of Principal Components of Rental Expenses

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

 

	Year Ended December 31,
	2023		2022		2021
Rental operating	$	53,028	$	47,832	$	41,488
Hotel operating	29,380		25,833		17,518
Repairs and maintenance	22,639		22,222		18,113
Marketing	3,485		2,379		1,779
Rent	3,536		3,215		4,023
Hawaii excise tax	4,387		4,081		2,792
Management fees	2,346		2,083		1,267
Total rental expenses	$	118,801	$	107,645	$	86,980