I dont think its a problem, it could just be part of the plant, but Im not 100% sure. I would hose it down really well to get rid of the possible problem and give it some fertilizer so that way at least its healthy enough to grow well so that way if it is a problem, you have more time to save your palm.

Good luck!

I've grown many of these and yes it's a part of the natural growth habit.
Glaucous (GLAHK-us) is the correct term meaning covered in whitish or bluish bloom or waxy, powdery substance that can in some cases be rubbed off.

Cheers, las palmas norte.

Thank you both of you for quick answers. I hope it's natural but I have some doubts though because I have another one with much less of this thing which I thought because there is less infestation.

One person I talked to suggested that it could be mealy bugs. The 'glaucous' on my plant came off as puffy dust, but I didn't see any bugs inside. However there are some scaly things on some leaves.
If they are mealy bugs, what should I do? I sprayed the plants with insecticidal soap already. Will systemic insecticide work on palm trees?

Thank you again for any help.

Your concerns are valid, although the photo doesn't show mealy bug. A systemic should work but perhaps poke around first to see if you can discover them.
As a side note, the glaucous amounts very considerably on these palms, and some have none at all.

Cheers.

For someone on this site to recognize it and say its fine should really relieve your concerns. Your may have more of this substance because your palm is healthier. Rememeber not to over water this palm.

PS. If you really are concerned isolate the palm from your tropicals until your sude.

Thank you las_palmas_norte. Knowing that the amount varies is a relief. I will poke around some more:-)
Thanks again.