Hidden Gems to Help You
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Affordable Office Space
The Manoa Innovation Center is more than just cheap rent. The incubation program lets entrepreneurs avoid a long lease when money is tight. “Our flexibility in our lease terms is something that’s not well known,” says Yuka Nagashima, executive director and CEO of HTDC, which oversees the center and the Maui Research and Technology Center in Kihei.
After the first 45 days, tenants at the Manoa center are on a month-to-month lease and can choose offices from 300 to 2,000 square feet in size. Rent, through the end of the year, starts at $1.06 a square foot for the first year in Manoa and $1.31 in Kihei. Base rates earlier this year for comparable commercial office space in Honolulu were about $1.42 per square foot.
Working alongside other startups that are experiencing similar challenges is also valuable, offering “synergy and camaraderie,” Nagashima says.
Photo Courtesy: Hawaii Technology Development Corp.
Businesses can stay at the Manoa center for up to five years, but start paying market rent in their third. “We want to provide infrastructure within Hawaii that will foster the growth of the tech sector where the commercial real estate infrastructure is not sufficient,” Nagashima adds.
The center also helps companies that don’t require office space yet, but need a business address, and use of a conference room and other shared facilities and equipment.
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