Lake Atitlán is surrounded by a number of smaller villages, each with its own distinct feel. Across the lake, only San Pedro La Laguna [1] rivals Panajachel [2] in popularity.
The other villages remain fairly quiet, though tourism has become a significant presence in almost all of them. Heading east of Panajachel along the lakeshore, the first village of note is Santa Catarina Palopó [3].
Links:
[1] http://www.moon.com/destinations/guatemala/the-western-highlands/lake-atitlan-villages/san-pedro-la-laguna
[2] http://www.moon.com/destinations/guatemala/the-western-highlands/panajachel-and-lake-atitlan
[3] http://www.moon.com/destinations/guatemala/the-western-highlands/lake-atitlan-villages/santa-catarina-palopo