On April 15, 1998, at 1145 Alaska daylight time, a Grumman G-21 amphibious seaplane, N22932, sustained substantial damage during a water landing five miles northwest of the Unalaska Airport, Dutch Harbor, Alaska. There were no injuries to the airline transport certificated pilot, or the eight passengers. The flight was operated by Peninsula Airways, Inc., of Anchorage, Alaska, as scheduled commuter flight number 323. The flight was a return leg from Akutan, Alaska, and departed at 1120. Instrument meteorological conditions prevailed at the Unalaska Airport, and the flight was holding in visual meteorological conditions outside the Class-E surface area. The pilot stated during a telephone interview with the NTSB investigator-in-charge on April 15, 1998, that after holding for 15 minutes, he decided to land on the water in a protected bay to wait for improved weather. He reported the winds and seas as calm. After landing, the seaplane porpoised on a swell which the pilot had not identified. The left horizontal stabilizer struck the water during the porpoise and was damaged. The passengers were transported to Dutch Harbor via a rescue boat, and the seaplane was water taxied to the harbor.