There are few dining options this far up the mountain. More possibilities are farther down, around Bambito and Volcán [1]. Many small kiosks also offer fruit shakes and burgers and the like for US$1–2 along the road from Volcán all the way to Guadalupe. Most of them are between Bambito and Cerro Punta [2]. There are also some fruit and vegetable stands for those who want to stock up on fresh produce.
Los Quetzales Lodge and Spa (tel. 771- 2182 or 771-2291, 7:30 a.m.–8 p.m. daily, US$6–9) has a new chef who makes good use of local fresh ingredients. The hotel features trout from its own pond, produce from its own garden, and tasty pizza from its own pizzeria.
The decor is plain in the dining room of the Hotel Cerro Punta (on the left as you approach downtown Cerro Punta, tel. 771-2020, US$5–9), but the food is surprisingly tasty and the service is refreshingly warm and friendly. The veggie rice dish (arroz jardinero) is a godsend for those tired of meat and deep-fried starches. There’s also the usual assortment of meats and fish. The fresh-fruit shakes (batidos) are pretty good.
Links:
[1] http://www.moon.com/destinations/panama/western-highlands/volcan
[2] http://www.moon.com/destinations/panama/western-highlands/cerro-punta