Well. Where do I start? I'll start by saying that Panarea is one of the few places we can say that we will definitely come back to. A small island, with a quiet village and great food. And no cars. This we didn't pick up on until we arrived and after being in Rome, Napoli and the Amalfi coast, not having cars was like heaven.
Carolina's place was just as advertised. Well appointed and clean. Screens on the windows to allow cool breezes in at night without any fear of bugs. She met us at the port when we got off the overnight ferry from Napoli and took us to the apartment. Communication was great. The space was well appointed and the view is...well...breathtaking. We did not expect to see small islands just off the coast. These are fantastic as the apartment faces east, and the face of the closest island is lit up brightly by the afternoon/evening sun.
As for things to do I will say this. If you are a Type A you will likely be bored after a few days. The island is small (3.4 km2) and to hike around it takes 3 hrs. Doing day trips to the other islands can be a bit of pain as Panarea is not a focal point for the hydrofoils.
But for the rest of us, I think it is perfect. We stayed 4 nights and could have stayed a month. Wake up and have a leisurely breakfast. Go for a hike or boat ride. Walk to Calla Junko for a swim. Lunch and a canoli (a must). Take a nap. Read a book. Apertivo time overlooking the islands and Stromboli. Then get ready for dinner out (8 pm the restaurants are empty. At 9 pm they are fuller, at 10 pm people are still arriving), cook your own in the small but functional kitchen or get takeaway pizza. Repeat.
Late May seemed like a great time to visit as it was warm, but not hot and the village was quiet. Tour boats came about 3 times/wk otherwise you have the place to yourselves. The ferry from Napoli was easy and convenient. Drops you off at 7:30 am and you can return to Napoli the same way.