Let $H = P$ be the Hamiltonian described by a Pauli operator $P$. The real time evolution according to H is $$e^{-iPt}.$$ While the imaginary time evolution is $$e^{-Pt}.$$
Consider the case $P=Y$. Than we have the y-axis rotation given by $$e^{-iYt},$$ which should be unitary. However, it is also true that $$Y = \begin{pmatrix}0 & -i\\i & 0\end{pmatrix} = -i\begin{pmatrix}0 & 1\\-1 & 0\end{pmatrix}.$$
If I substitute this matrix into the rotation operator I get $$e^{-\begin{pmatrix}0 & 1\\-1 & 0\end{pmatrix}}t$$
Isn't this an imaginary time evolution? But it can't be either a unitary and an ITE. What am I doing wrong?