Your Own Guesthouse in Panama
Steve Hartwig runs his own guesthouse in Bocas del Toro in Panama—on an island approximately 3 miles long and half a mile wide.
On a typical day, Steve cooks a tropical island breakfast using local ingredients. After his guests have enjoyed their meals, he’ll help them arrange a tour—snorkeling, diving, surfing, and fishing are just a few of the options. While his guests are out enjoying Panama’s natural wonders, Steve takes the 15-minute boat ride to the “main island” to buy supplies. He normally stops at a bar for a drink, where the clientele is a mix of surfers, locals, expats, and tourists.
Locals call out to Steve, some waving from the bar and some shuffling over to give him a peck on the cheek. The acceptance and affection he gets from his friends and neighbors is a highlight for Steve. “The people are probably my favorite part of life here. I spend more time with local friends than I do with expat friends,” he says.
As the sun begins to set, it’s time for Steve to head back and get dinner started for his guests. It doesn’t feel much like work to him: “I never meet a stranger,” he says. “I like to entertain and cook for my guests.” After dinner, he’ll take out his guitar and strum a few tunes for his audience.
Steve lives on Isla Solarte, one of more than a hundred jewels that stud the Bocas del Toro archipelago. One of Panama’s most beautiful provinces, Bocas del Toro’s crystalline waters and blinding-white beaches rival those of the Bahamas.
When Steve found out about the idyllic Bocas islands in 1999, they were virtually unknown. His father passed away in 1997, and with an inheritance in hand and nothing to tie him down, wanderlust set in. Steve left Chicago and became a globetrotter. He was in Puerto Rico when he realized he wanted to start a new life far from the Windy City.
Steve was willing to consider anywhere in the world. He almost bought property in Waikiki, Hawaii, but the deal fell through. “I had already quit my job and the office had thrown me a farewell luau.” he laughs. “I had to move!”
Build a B&B in Panama
Where? Bocas del Toro
Why? Now may be the best time to buy a home or lot here, as titled property is more readily available and prices have dropped slightly.
How much? From $200,000. Here are two properties for sale:
A “Bocas-style” home is selling for $200,000 (pictured). The three-bedroom, two-bathroom home sits on a lot of about a third of an acre, so there’s plenty of room to build a cozy inn. See: www.considerpanama.com.
For $289,000, you can buy a 14-acre lot. It’s a few minutes’ walk from the beach and comes with a 27-foot motorboat. The lot is titled and comes with U.S.-based title insurance. See: www.masterkeypanama.com.
During an online search for tropical island property, he serendipitously came across an obscure Caribbean island—quite the opposite of well-known Waikiki. “I traveled to Panama right away,” Steve recalls. “I got there on Tuesday, and by Thursday I had bought a lot for $20,000.”
He set about building a small guesthouse, where he would live and offer lodging for tourists. “This was in February 1999,” says Steve. “I found a contractor, and six months into building realized my money wasn’t going as far as I had hoped.” But he wasn’t ready to give up.
Steve approached two couples that spent a lot of time vacationing in the area. To his delight, they agreed to invest, and he was able to continue building. The next hurdle was permitting. In laidback Bocas, the paperwork could arbitrarily take days or weeks. For $1,500, his Panamanian architect drew up the blueprints and got all his paperwork together, then went with Steve to all the necessary offices.
“We went to the fire and health departments, and when we met with the mayor, he joked that he was fast-tracking my paperwork because he heard me playing guitar at a local pub the night before,” he recalls. In just one day, Steve had all the permits he needed to start operating his new guesthouse. With funding and permits in place, Steve set about making his guesthouse as eco-friendly as possible.
Steve says that business has been slow this year. Thanks to the global economic recession, he says, everyone in Bocas is taking a hit. In Steve’s seven-room guesthouse, he has gone from being full during the high season a couple of years ago to barely being able to keep two rooms occupied. He expects, however, that business will pick up this month (November is a national holiday in Panama).
“If you could sell now,” I ask, “would you leave Bocas and go to Hawaii?” He doesn’t hesitate: he is hooked on Bocas, and plans to stay.
Solarte del Caribe Inn offers one- and two-bedroom units with full kitchens. The island’s tropical rainforest boasts a 40-foot canopy, and the coral reef surrounding the island is perfect for snorkeling and scuba diving. Though Solarte is the epitome of peace and tranquility, the surrounding islands offer lively restaurants, bars, and more—all just a 15-minute boat ride away.
Double-occupancy rates start at $88 including tourism tax, breakfast, and boat transport to and from the main island. See:www.solarteinn.com.
For more information on living, investing or doing business in Panama, see: http://www.internationalliving.com/2009/10/panama_om2009/
