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2.
1: The feeling reached when someone "Remembers that night in Panama"
2: Described as the feeling of the wetsuit rubbing against the genitalia when exiting the water.
Hey Alexa I just had the Panama Sensation kind of reminded me of that night in Panama damn it was good.
by Big Deezy February 14, 2004
 
1.
The feeling that you get when your wet-suit rubs up against your......you know. A tickling kind of feeling.
I was wading throuhg the water and then I stopped and noticed the Panama Sensation in my wet-suit.
by Alexa Rae February 09, 2004