Bocas del Toro hotels can be fairly expensive because the town attracts a lot of tourists. At $10 per person, dorm beds are on the pricier side, but the Bocas del Toro hostels are superbly equipped. Nearly all have WiFi and a hammock-laden common room, as well as other goodies like foosball tables. There are a few higher end spots in town, but most of the nicer resort-type places are located out on the more remote islands.
Michael Karanicolas is awesome.