First Hawaiian, Inc. (NASDAQ:FHB) Q4 2022 Earnings Conference Call January 27, 2023 1:00 PM ET
Company Participants
Kevin Haseyama - Investor Relations Manager
Robert Harrison - Chairman, President, and Chief Executive Officer
Jamie Moses - Chief Financial Officer
Ralph Mesick - Chief Risk Officer
Conference Call Participants
Steven Alexopoulus - J.P. Morgan
Andrew Liesch - Piper Sandler
Kelly Motta - KBW
Jared Shaw - Wells Fargo Securities
Laurie Hunsicker - Compass Point
Operator
Good day, and thank you for standing by. Welcome to the First Hawaiian Fourth Quarter 2022 Earnings Conference Call. At this time, all participants are in a listen-only mode. [Operator Instructions] Please be advised that today's conference is being recorded. I would now like to hand the conference over to your speaker today, Kevin Haseyama, Investor Relations Manager. Please go ahead.
Kevin Haseyama
Thank you, Shannon, and thank you everyone, for joining us as we review our financial results for the fourth quarter of 2022. With me today are Bob Harrison, Chairman, President, and CEO; Jamie Moses, Chief Financial Officer; and Ralph Mesick, Chief Risk Officer.
We have prepared a slide presentation that we will refer to in our remarks today. The presentation is available for downloading and viewing on our website at fhb.com in the Investor Relations section.
During today's call, we will be making forward-looking statements. So, please refer to Slide 1 for our safe harbor statement. We may also discuss certain non-GAAP financial measures. The appendix to this presentation contains reconciliations of these non-GAAP financial measurements to the most directly comparable GAAP measurements.
And now, I'll turn the call over to Bob.
Robert Harrison
Good morning, everyone. And I'd like to start by welcoming our new CFO, Jamie Moses. He brings us wealth of banking experience and proven track record in financial management. We're excited to welcome Jamie to the bank. I also wanted to extend a special thanks to Ralph Mesick for his contributions as acting CFO over the last year until Jamie joined us.
Now, a brief update on local economy. The Hawaii economy continues to do well. In December, the statewide unemployment rate fell to 3.2%, slightly below the national unemployment rate of 3.5%. Total visitor arrival grew 735,000 in November of last year, 9.1% below the November 2019 arrivals. Japanese visitor arrivals remained below historical levels at 3.8% of the total, compared to 16.3% in November of 2019.
We continue to expect a gradual return of Japanese visitors to more normalized levels. Despite the lower number of overall arrivals, visitors tend in November was $1.5 billion, up 13.7% over November 2019. The housing market has remained stable. In December, the median sales price for a single family home on Oahu was just over $1 million, unchanged from the year before. Median sales price for condos on Oahu was 503,000, 3.6% higher than the previous year.