Panama City

As of May 2026, Panama City, Colón, Playa Bonita have 2,442 active Airbnb and VRBO listings. This represents a 4% decrease from the previous year.

The average Airbnb or VRBO in Panama City generates B/.23K per year. High-performing properties earn B/.47K/year, while low-performing properties earn B/.7K/year. This wide revenue spread highlights a significant disparity in asset utilization, suggesting that market returns are heavily skewed toward listings that effectively capture the current growth in demand.

Airbnb and VRBO can be profitable in Panama City. Average annual revenue is B/.23K with 45% occupancy. High-performing properties earn up to B/.47K/year. The 45% occupancy rate alongside rising revenue suggests that while the market is consolidating, top-tier performers are successfully extracting higher value from a tightening supply pool.

The average occupancy rate for Airbnbs and VRBOs in Panama City is 45%. This occupancy level, combined with an average nightly rate of B/.122, results in a RevPAR (revenue per available room) of B/.44 per day.

4+ bedroom properties demonstrate the strongest performance in Panama City, with annual revenue of B/.54K. These properties balance operating costs and rental demand most effectively in the Panama City market. Property performance varies significantly by location, amenities, and management quality.

Short-term rental regulations vary by jurisdiction in the Panama City area. Panama City: Lenient. No specific short-term rental regulations or registration requirements. Tourism Ministry oversees hotels but STRs largely unregulated. Minimal enforcement. Colón: Lenient. No formal STR licensing or permit system. Limited tourism infrastructure means few rentals operate. Virtually no enforcement. Playa Bonita: Lenient. Falls under Panama City jurisdiction. No STR-specific rules. Resort area with condos operating freely. No active enforcement mechanisms. Always verify current regulations with local authorities and obtain necessary permits before operating a short-term rental.

The Panama City Airbnb and VRBO market is currently showing balanced with strong demand conditions. Supply has declined 4% year-over-year, while RevPAR has increased 21%. This indicates healthy demand growth outpacing supply. The contraction in inventory combined with rising revenue metrics signals a shift toward a more efficient market environment for existing operators.

Launch around October, 2-3 months before peak winter season (January peaks). This pre-peak timing lets you build reviews when competition is 20% lower than peak months. Avoid launching during peak season when established listings dominate, or slow months (September-May) when gaining traction is harder.

The most common amenities in Panama City listings include: Air Conditioning (99%), Kitchen (96%), Tv (88%), Washing Machine (86%), Elevator (67%). Amenities that boost revenue the most include Hot Tub, Sauna, Bbq, with Hot Tub properties earning approximately 44% more (B/.41K/year vs B/.28K/year).

Monthly estimated revenue per listing in Panama City over the last 12 months: May: B/.908, June: B/.965, July: B/.1K, August: B/.1K, September: B/.1K, October: B/.1K, November: B/.1K, December: B/.2K, January: B/.2K, February: B/.2K, March: B/.2K, April: B/.2K. These figures are based on RevPAR (revenue per available room) multiplied by the number of days in each month.

The overall average nightly rate in Panama City is B/.122, up 18% year-over-year. By property size: 1-bedroom properties average B/.92/night, 2-bedroom properties average B/.132/night, 3-bedroom properties average B/.199/night, 4+ bedroom properties average B/.431/night. Rates peak in February and are lowest in May.

Guests in Panama City book an average of 25 days in advance, down 13% from last year. By property size: 1-bedroom: 22 days, 2-bedroom: 27 days, 3-bedroom: 30 days, 4+ bedroom: 40 days. Larger properties tend to have longer booking windows as guests plan group trips further ahead.

Over the past year, the Panama City Airbnb and VRBO market has seen the following changes: supply declined 4%, revenue per listing increased 21%, occupancy rose 13%, average nightly rates increased 18%, and lead time decreased 13%. Reduced lead times and climbing rates reflect a market tightening, where guests are securing limited inventory more aggressively.

In Panama City, Saturday sees the highest booking demand while Tuesday has the lowest. Nightly rates peak on Saturday and are lowest on Tuesday. Weekends show 13% higher occupancy than weekdays.