It is indeed called Bahia Honda
(but be careful when searching as there are a couple of those in Panama
and many more in the rest of the Spanish speaking world) and is a well known anchorage in Las Perlas. I haven't been there in many years, my recollection is that it is a good anchorage, but I couldn't provide any details, particularly as to "year round" since I've only been late in the year. That's why I posted the links to more recent visits. Both of them, and some others, indicate that it is the place to go when other anchorages
in the area are rolly. A couple said it was the flatest anchorage they'd ever been in.
However, the island no longer looks like that pretty Google satellite
image. About half the island seems to have been clear cut and razed in preparation for construction. The local fisherman and their supporters have been protesting in Panama about the "theft" of their islands by the rich elite making a playground. So, while the anchorage may be physically very nice I don't know how welcoming it would be to "rich" gringos at the moment. That is only speculation on my part, I just know that civil unrest can make places uncomfortable in ways other than wave motion.