Uncommon, but it's been done before. CVN-70 (Carl Vinson) comes to mind. Vinson participated in the ship's christening but I think he passed away before the ship was commissioned. Ronald Reagan was around when they decided to name CVN-76 after him but passed away before the ship was built.
Was the term “Nimitz Class” formed after the Admiral was dead?
The X-craft has been cancelled? I watched an interesting show on the military channel about it a while ago.
The USS John C. Stennis (CVN-74) was commissioned while the former Senator was still alive.
Reagan died in 2004, the year after the carrier was commissioned.