The top two things to do in Boquete on Trip Advisor are to hike Sendero Los Quetzales and Tres Casacadas (Three Waterfalls) Trails. The Three Waterfalls Trail is also called the Lost Waterfalls Trail.
It is highly recommended to take a guide for Sendero Los Quetzales which also requires a 4-wheel drive vehicle and there is a two-person minimum. As such, just to take a hike was going to cost $190. As an experienced hiker with an all-wheel drive car, that seemed a little ridiculous to me.
HAPPY HIKING!