It was still considered a part of the United States, unlike Puerto Rico and Guam which have a different legal status. He's a U.S. citizen per the 14th Amendment.
They tried that on Goldwater in 1964, saying he was born in Arizona before it was a state. It didn't work then, either.
I'm pretty certain a Puerto Rican or a Guamanian could be elected President.
It's an interesting issue in that there isn't, of course, a lot of case law concerning that Constitutional requirement.