Jesus calls the disciples "O you of little faith." But what does that really mean? Were they completely faithless, or was it something else?
The disciples' fear didn't mean they had no faith, but that their trust in Jesus wasn't as strong or as active as it could be.
Not Zero Faith
Notice they did wake Jesus up, asking for help. This shows they believed He could do something, even if they doubted He would, or that He was the One who could save them in that moment. They had a flicker of faith, enough to seek Him out.
Faith Overwhelmed
However, their fear was so intense it overshadowed their faith. Jesus uses the term "timid" or "fearful" alongside "little faith" to show that their fear had grown beyond healthy bounds, paralyzing their trust. True faith, even in a storm, would have brought a sense of peace and confidence in Jesus' presence and power.