The Best Cheap Restaurants in Panama

If you are paying more than $30.00 for a steak dinner for two in Panama — you are paying too much. This month, we explore the best cheap restaurants in Panama and where the locals go for great food.

Jimmy’s Grill

Jimmy’s Grill in San Francisco is an old Panama stand-by. And known for their softball-sized steaks and fantastic grilled seafood. What most people don’t know is that Jimmy’s has a small Banking District location behind the Continental Hotel.

Here they offer the same fantastic options at discounted prices. In fact, my wife and I enjoyed two steak dinners, an appetizer, a glass of wine each, and a shared dessert for $26.00. Then we went to see a Wednesday night movie for $4.50. Dinner and a movie for under $35.00? That’s one of the reasons that I live in Panama. And for me, Jimmy’s is one of those great places that most people that come to Panama would never know about.

La Jarana

For cheap seafood restaurants in Panama, we head to La Jarana. This adorable little Peruvian restaurant rests behind the iconic Evergreen Building. $7.00 will get you a massive plate of fresh ceviche that can fill up two people. And if you still have room after the ceviche, you’ll have lots of fantastic entrées priced right around $8.00 each. La Jarana is a great example of inexpensive delicious Latin food in Panama City.

Tip Top

Have you ever been to Tip Top? This local favorite is an open-air restaurant in El Cangrejo. Just off one of our favorite emerging streets, Via Argentina. 

Tip Top has many Panamanian specialties for under $5 and it’s one of Panama’s busiest lunchtime spots. Here you will find some of my favorites, choripan (chorizo in toasted roll) and bistec picado (chopped beef).

Tip Top also has a car wash attached out the back where you can get a really acceptable car wash (roughly 45 minutes) for $3.