Vancouver is 2 hours behind Panama City
Best overlap: 10:00 AM to 6:00 PM in Panama City is 8:00 AM to 4:00 PM in Vancouver.
If you set up a recurring sync, 10:00 AM to 6:00 PM in Panama City (8:00 AM to 4:00 PM in Vancouver) is the natural home for it. Vancouver is 2 hours behind Panama City, but you still share a generous 8 hours of overlap, so scheduling is easy and there's room to move a meeting when you need to. These times hold for most of the year, but Vancouver's daylight saving (which Panama City doesn't use) shifts them by an hour twice annually.