Dip in oil prices could lead to lower expenses for Honolulu office buildings

The dip in oil prices could lead to lower operating expenses for the scores of office buildings in Honolulu, especially in the downtown core, according to a new report by Hawaii Commercial Real Estate LLC.

The largest operating cost for office buildings is electricity, most of which is used for air-conditioning systems, and since most of Hawaii’s electricity is produced by burning oil, those costs should drop, at least for 2015, according to Hawaii Commercial Real Estate’s Honolulu Office Market…