The Panama Hotel is a very quaint and cute historic hotel. We stayed at the Box hotel room and it was adorned with traditional Japanese framed art boxes and vintage chairs. I loved the vintage feel to it and all the history that was embedded in the walls. The hotel owners are stewards of preserving the Panama Hotel as a national landmark, which is super cool. But be wary of the lack of modern day conveniences (no AC, limited outlets, no TV, etc). It was a bit pricey for the room and Airbnb does a good job at hiding the fees until you're about to confirm the booking, so that would be another thing to double check. Jan was super helpful in guiding us to our room, giving us tips on where to go for sightseeing and providing us with interesting tidbits of history. They let us check-in super early and store our luggage while the cleaning person cleaned our room. I really appreciated this, especially since we booked same day and they were available to check us in on such short notice.
One thing to prepare yourself for is that the leather hide on the stairsteps are preserved from the early 1900's, so you have to lift the bags without rolling them directly on the floor in order to prevent damaging it. My boyfriend and I had way too much luggage so it was quite a bit of a hassle hauling it up three flights of stairs.
They have a coin laundry machine and a microwave in the common room. When washing your clothes, the dryer runs extremely hot, even on "normal dry", so luckily we checked 10 minutes before the cycle was finished, otherwise I think our clothes would have burned. Just something to be aware of if you have any delicates or don't want your clothes to shrink; I'd put your clothes on "low heat" or "quick dry".
Lastly, having no AC was quite intolerable during the dead of summer and especially with the heat waves coming through. Coupled with sharing a bed with your boyfriend, it was quite the sweaty sleeping experience.
Overall, I really enjoyed my stay at the hotel. Definitely check out the tea house next door. So much cool history and old photos. There's even a nice study / work lounge downstairs. Wifi works great. I would say, if you're prepared for a historic and interesting hotel experience, Panama Hotel is definitely worth your while. Maybe bring a hand fan if you're coming during the summer.