Commercial real estate is property that is used exclusively for business or commercial purposes such as office space; retail stores; warehouses; industrial space (buildings and manufacturing plants); hospitals; hotels and resorts; restaurants; shopping malls; and strip malls. Multifamily rental properties such as apartment complexes are also classified as commercial real estate.

Most commercial real estate is leased to tenants engaged in business or commercial activities. Commercial real estate is often an investment asset for real estate investment trusts (REITs) and large other investors.

In Hawaii, commercial real estate encompasses properties used for business activities, including office spaces, retail stores, warehouses, industrial buildings, hospitals, hotels, restaurants, and shopping centers. Multifamily rental properties like apartment complexes are also considered commercial real estate. These properties are typically leased to tenants for commercial purposes. The leasing, sale, and management of commercial real estate in Hawaii are governed by state statutes and federal laws, which include regulations on land use, zoning, environmental impact, and building codes. Additionally, commercial real estate transactions and leases must comply with the Uniform Commercial Code as adopted in Hawaii. Investors, including REITs, often hold commercial real estate as part of their investment portfolios, and these investments are subject to both state and federal securities laws. It's important for parties involved in commercial real estate transactions to consult with an attorney to ensure compliance with all applicable laws and regulations.