Investment and financial education programs for Palauans were discussed during a meeting between President Surangel S. Whipps Jr., of Palau, and James C. Polk, president and chief banking officer of the Bank of Hawaii.
Polk was joined by Rita Camacho Jugo, vice president & commercial banking officer; Michael Sakazaki, West Pacific Market president, Edwin G. Quan, senior vice president and director, and Ives Morei, assistance vice president and Palau branch manager. They visited Whipps on July 17, according to the Office of the President.
President Whipps, accompanied by Kaleb Udui Jr., director of the Ministry of Finance, shared updates on Palau’s latest developments, including new hotel openings and emerging investment opportunities.
In his State of the Republic Address, delivered in April, Whipps noted several fintech opportunities Palau is delving into, including the Palau Savings Bond. This new program was made possible through the efforts of former Minister and current director of Ministry of Finance Kaleb Udui, and Dr. Yoshino Naokyuki, Professor Emeritus of Keio University.
“The savings bond initiative is a strategic move to modernize the nation's financial infrastructure while fostering economic growth. It is designed to empower citizens financially and accelerate Palau’s infrastructure development, creating a sustainable cycle of investment and growth,” Whipps said. “Palauans, both at home and abroad, can purchase bonds through a mobile app, allowing them to participate in national development while earning returns on their investment. This initiative provides individuals with a secure savings mechanism, helping them build long-term wealth and plan for future needs such as housing or education. For the government, the bonds serve as a valuable domestic funding source, enabling the financing of critical projects— including roads, housing, and SME development—using locally raised capital and reducing reliance on foreign loans.”
According to industry reports, the Four Seasons Hotels & Resorts is preparing to open its new hotel in 2027 or 2028. Work on the new development has started in Koror. The Journal last reported on the Four Seasons and other hotels last year. The Leisure Development Koror Inc., which does business as the Four Seasons, was stalled by a property dispute but was nearing a resolution. (See story Leaping Forward: New hotels on Palau’s horizon).
Meanwhile, the company’s famous liveaboard, the 128-foot Four Seasons Explorer, opened in 2023 in Palau and government officials say it remains consistently booked. The popular live-aboard has been referred to as a luxury floating resort as it boasts three decks, 10 staterooms plus an explorer suite, restaurant, two bars, lounge, library, PADI 5-Star Dive Centre, and a spa corner. A night’s stay includes all meals with a rate starting around $3,200. The liveaboard also offers private charter options for up to about two dozen guests.
Other news from Palau includes a spotlight from the Palau Visitors Authority on the increased tourism numbers for June 2025. Palau welcomed 6,351 visitors, a 46% increase when compared to June 2024 arrivals of 4,332. A key driver of this increase, according to PVA, is the Pacific Mini Games, which Palau hosted from June 29 to July 9. Though athlete delegations, officials, and supporters started arriving well before the June 29 opening ceremony. It is interesting to note, though that the 34,268 arrivals from January to June in 2025 are 22.5% more than what was seen in 2024, which was 27,966.
While growth was seen in all markets, including China, Taiwan and Japan, it was Australia that showed the largest increase at 113%. PVA said this “dramatic rise in Australian arrivals is attributed to the introduction of direct flights and focused marketing efforts, making Palau increasingly accessible and attractive to travelers from that region.” Australian government support for the Qantas airline flight has helped with marketing efforts. To accommodate the busy flight schedule of the Pacific Mini Games, Qantas had a second weekly flight – something Palau officials have said they hope to see more of.
Also, Palauans were treated to three days of the spectacular Super American Circus from July 18-20. President Whipps, who gave opening remarks for the July 18 show, welcomed producer Cornel “Tuffy” Nicholas and his group of performers. Hundreds of Palauans took advantage of the rare opportunity to watch the high-flying acts on the aerial straps and the wheel of danger.
