It entirely depends on the trajectory of the hopping. For example, a year at local company, then two years at a fortune 500, then hopping to FAANG or FAANG-adjancent company could be a positive sign.

Seniority of the candidate is another thing to consider. Job hopping every 1.5 to 2 years in the first 5 or so years of one's career is normal and often expected among US software engineers. However, having a bunch of short stints later in one's career, in my experience, has translated to weaker hires.