Hawaii Commercial Lease Agreement

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The Hawaii Commercial Lease Agreement is a rental contract for landlords that permits the use of a business tenant occupying retail, office, or industrial related property or space for monthly payment. The landlord will likely perform a lookup of the financial background with the application and it’s entity status by viewing the Secretary of State’s business database.

Types of Lease

It can be written in two (2) possible versions;

Triple Net (NNN) – The tenant covers the costs of the real property taxes, insurance, and common area maintenance on the property in addition to paying a fixed monthly payment to the landlord.

Gross – The landlord covers the costs of the real property taxes, insurance, and common area maintenance on the property in addition to paying a fixed monthly payment to the landlord.

Price/Sq Ft.

The rental price is usually equated as a price per square foot ($/SF) of the space that is taken by the tenant and the monthly price is figured by the parties. Usually, the landlord will cover the cost of “fitting up” the premises to the tenant’s liking and if the tenant accepts the property “As-Is” then they would typically receive a discount.

When authorizing this agreement, it is advised to have it signed in the presence of a notary public due to the amount of monetary gain/loss involved in the transaction.

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