A number of large national retailers opened shop in the first part of the year and bolstered the recovery for Oahu’s retail market, according to a midyear report released today by Colliers International.

"We posted some very healthy growth," most of it related to new retailers occupying approximately 154,308 square feet of space, said Mike Hamasu, Colliers consulting and research director.

The openings of discount retailer T.J. Maxx (at Ward Village, Pearl City Gateway and Pearlridge Center) and Whole Foods (at Kailua Town Center) contributed to a large part of the gain in occupancy over the past six months. So did national chains such as Sports Authority at Windward Mall and Gap Outlet at Waikele Center, both of which are taking over spaces abandoned by Borders.

"The tourism sector is leading our economy forward," he said. "As a result you have sizable improvement in tourism expenditures, which translates into improved retail sales."

In addition, retail sales are being influenced by a rebound in residential home sales and an improved job market, Hamasu said.

Retail sales rose by 16.3 percent, or by $400 million, over the past year, according to the report.

Despite the occupancy gains, vacancy rates were up slightly to 4.3 percent from 4.2 percent. Meanwhile, asking base rents on Oahu dropped by roughly 1.2 percent to $3.35 per square foot per month, which was comparable to 2007 rents.

"Although there appears to be more optimism among retailers, the overall economic environment still reflects an uncertain future based upon contrasting economic indicators," the report said.