Good luck finding a more consistent surf spot on the planet. Especially one with great waves, from fun to...let's just say challenging.
Breaks on any swell, including northwests (which you’ll probably never see), and never closes out. Outside A-frame reef that looks mushy from shore but actually gets pretty juicy and is always bigger than it looks. Barrels on the inside. The rights are slightly better than the lefts, but the lefts are often longer. Best on medium tide, but good and surfable at all tides.
Hard to get out on big days; best to head to the north side of the break, paddle out then paddle across into the lineup. Hard to get in (to the break) on all days, as it’s inside the private Hacienda Iguana development. Either buy property, rent a condo or house, or boat in. (Guess how it got its name...panga.) A bigger board can be the call as it’s not easy to get into these waves, but the truth is, you can surf any board at Pangas. This is a "do anything" wave, from high-performance to longboarding to tucking into barrels. It's up to you.
Where to Stay to Surf Panga Drops
Being situated inside the Hacienda Iguana development, your best option is to rent a condo or house, either in Iguana or the next development to the north, Rancho Santana. If you stay in Santana you'll need to drive to their clubhouse then hike in. If you stay in Iguana, the surf can be on your doorstep.
A favorite place right on the beach is the Villas Iguanas A18 condo. Surf fun beach breaks right out front, Panga Drops a few steps to the south, or Los Perros (on the right swells) a few steps to the north. There are a bunch of other rentals right on the beach, so you really can't go wrong planning a surf vacation here.