Palm Tree Trunk Disease

[Scout]

I have 3 palms in an “island” area of my garden, one of them I recently noticed has developed some soft areas on one side of the trunk. There is an area where slimy yellow liquid is leaking out and has dried on the side of the trunk. The trunk seems mostly healthy, the soft area extends about 1/3rd of the way around the trunk, the rest of the trunk is solid and healthy. Does anyone have an idea of what this is ? Or know of an expert that can come diagnose and treat the issue before it kills the tree ? Here are a couple pictures.