Panama may be famous for coffee, tropical fruit and its enormous variety of bakeries, but travelers craving the familiar American-style doughnut are not completely out of luck. In fact, Krispy Kreme has become a well-established part of Panama's doughnut scene, with locations throughout Panama City and beyond.
There is, however, an important distinction when talking about "American doughnut companies in Panama": Krispy Kreme is the major U.S. doughnut chain with a clearly established current presence in Panama. Dunkin' has also had a presence and appears in Panamanian business directories, but its current retail footprint is much less clearly documented than Krispy Kreme's. Tim Hortons is another major North American doughnut chain in Panama, but it is Canadian, not American.
Krispy Kreme: Panama's Big American Doughnut Brand
Krispy Kreme is by far the easiest American doughnut brand to find in Panama.
The chain opened its first Panamanian store in Costa del Este in January 2017, bringing its famous Original Glazed doughnuts and "Hot Now" concept to the country. The arrival was a major event: local reports said one customer actually waited 33 hours in line to become the first customer and win a year's supply of free doughnuts.
Today, Krispy Kreme has multiple locations around Panama City, including Costa del Este, Calle 50, Multiplaza, Albrook Mall, El Dorado, Metromall, San Miguelito and other locations. There is also a location at Tocumen International Airport, meaning travelers can potentially get an American doughnut before even leaving the airport.
Krispy Kreme | Costa del Este is particularly notable because it is at the location where the brand first entered Panama.
How much does a Krispy Kreme cost?
This is where Panama gets interesting.
Current Panama menus show an Original Glazed at approximately $1.49–$1.59, depending on the location. Regular specialty doughnuts generally run around $1.59–$1.79, while more elaborate gourmet varieties can reach approximately $1.79–$1.99.
So a useful average for a normal Krispy Kreme doughnut in Panama is approximately:
Average: ~$1.60–$1.70 per doughnut
A dozen Original Glazed can be considerably better value. Current Panama menus show approximately $12.79–$13.99 for 12, depending on where and how you purchase them.
That works out to roughly $1.07–$1.17 per doughnut when buying a dozen.
Krispy Kreme | Albrook Mall is another convenient option for travelers passing through Albrook.
What About Dunkin'?
Dunkin' is a more complicated story.
Dunkin' is obviously one of America's most famous doughnut brands, and Panamanian business directories continue to list Dunkin Donuts locations in Panama, including historical/current listings around Albrook, San Francisco, Costa del Este, Bella Vista, Tocumen, Multiplaza and other areas.
However, there is a significant caveat: I would not treat those directory listings as proof that all of those locations are currently operating. The official Dunkin' store locator does not provide the same clear Panama presence that the official Krispy Kreme Panama site does.
So if you're writing a current Panama travel guide, the safest statement is that Dunkin' has had an established presence in Panama, but Krispy Kreme is the clearly verifiable major American doughnut chain currently operating throughout the country.
I also wouldn't give you a supposedly "current average Dunkin' doughnut price" without reliable current Panama menu data. Old directory listings aren't good enough to establish today's price.
Tim Hortons: The North American Option That Isn't American
One brand that often causes confusion is Tim Hortons.
Tim Hortons is absolutely a North American doughnut giant, but it is Canadian, originating in Hamilton, Ontario.
And yes, it is in Panama.
There are multiple Tim Hortons locations around Panama City, including Soho Mall, Vía España, 12 de Octubre, Panama Plaza and Condado del Rey. Tim Hortons | Soho Mall Tim Hortons | Vía España
For a Canadian traveler, walking into Tim Hortons in Panama can be an amusingly familiar experience. You can find recognizable items such as Boston Cream doughnuts, Timbits and the company's coffee drinks.
But because Tim Hortons is Canadian, it doesn't belong on a strict list of American doughnut companies.
So What Are the Prices?
Here's the most useful snapshot for travelers:
Brand Origin Panama presence Typical doughnut price
Krispy Kreme 🇺🇸 United States Strong/current ~$1.60–$1.70
Dunkin' 🇺🇸 United States Historical/less clearly documented currently Current price difficult to verify
Tim Hortons 🇨🇦 Canada Strong/current Varies by item/location
For Krispy Kreme, the $1.60–$1.70 range is a good practical number for an ordinary individual doughnut based on current Panama menus.
And if you're buying a dozen, you're looking at roughly $13 for a dozen Original Glazed, making them significantly cheaper per doughnut than buying individually.
Panama's Doughnut Scene Is Bigger Than the American Chains
One of the interesting things about Panama is that you don't have to stick to the international chains.
Panama City has independent bakeries, cafés and specialty dessert shops producing their own versions of doughnuts, including filled, glazed, chocolate-covered and mini doughnuts.
The Donut Lab, for example, specializes in made-to-order mini doughnuts where customers can customize the toppings and flavors. It is a completely different experience from walking into a Krispy Kreme.
This is where Panama becomes particularly interesting for doughnut lovers. The international chains provide the familiar experience, but local businesses are creating their own interpretations using flavors and ingredients that feel much more Panamanian.
If you're specifically searching for an American doughnut chain in Panama, Krispy Kreme is the clear answer.
It has been in Panama since 2017, has numerous locations around Panama City, and its current prices are surprisingly reasonable. A standard doughnut costs roughly $1.60–$1.70, while an Original Glazed bought by the dozen works out to around $1.10 per doughnut.
Dunkin' has also operated in Panama, and Panamanian directories still contain numerous listings, but its present-day footprint and pricing are much harder to verify reliably, so it shouldn't be presented as being as firmly established as Krispy Kreme without checking the individual location first.
And then there is Tim Hortons, which gives Panama something even more unusual: a Canadian doughnut chain operating alongside American brands in Central America.
For travelers, the simplest rule is:
Want the most reliable American doughnut experience? Go to Krispy Kreme.
And if you're flying through Tocumen, you don't even necessarily have to wait until you reach the city, there is a Krispy Kreme counter inside Tocumen International Airport.