Panama hat mountain range. Hat weaving and wearing grew steadily in Ecuador through the 17th and 18th centuries. In 1835, Manuel Alfaro, a man who in many ways can be considered the grandfather of the Panama hat, arrived in Montecristi to make his name and fortune in Panama hats. He set up a Panama hat business with his main objective being exportation. Cargo ships from Guayaquil and Manta were filled with his merchandise and headed to the Gulf of Panama. His business prospered as more and more Gold Rush prospectors arrived and passed through Panama needing a hat for the sun. One
Panama hat as "Montecristis", after the town of Montecristi, where they are produced. The rarest and most expensive Panama hats are hand-woven with up to 3000 weaves per square inch. In February 2014, Simon Espinal, an Ecuadorian 47-year-old Panama hat weaver considered to be among the best at his craft, set a world record by creating a Panama hat with four thousand weaves per inch that took eight months to handcraft from beginning to end. According to popular lore, a "superfino" Panama hat can hold water, and, when rolled up, pass through a wedding ring. Despite their name, Panama hats have never