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Former US president Barack Obama and his wife Michelle met with prime minister Anthony Albanese to talk about the global economy before the pair toured Sydney.

Albanese said he and Obama had a "very positive meeting" where they discussed the invasion of Ukraine and the global supply constraints.

"I had a very positive meeting with President Obama this morning in Sydney, talking about the global economy and what was occurring," Albanese said.

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"The Russian invasion of Ukraine, as well as the supply side constraints when it comes to the pandemic, have meant that there is upward pressure on energy prices."

Obama and his wife flew into Sydney on a private jet last night and were seen at disembarking at 7.30pm yesterday before being quickly moved by security into a hire car.

The pair attended Kirribilli house to meet with Albanese where locals were happy to see them.

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"We were just trying to get home for a cup of coffee when we were stopped by the federal police because we had a vistor in town," one local said.

"I'd invited the lad over for some Anzac biscuits but he'd given me the go-by.

"Good to see the man here, he's a bit of a hero I suppose nationwide and internationally."

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The Obamas then headed to Collins Flat Beach before checking out Balmoral where they had lunch at Bather's Pavilion.

The Obamas are in the country for Barack's "An Evening with President Obama" tour.

Aussies with tickets to the hotly-anticipated event have forked out almost $200 for a standard seat, with tickets priced at a whopping $895 for a "platinum" spot.

Barack's first event will be held in Sydney on Tuesday before the former president jets off to Melbourne for a second night.

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It's a rare public appearance for the couple, who have seldom been photographed together in recent months.

The former politician served as the 44th president of the United States from 2009 to 2017.

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Barack and Michelle Obama tour Sydney ahead of speaking tour - 9News