Hi
https://yarnsub.com/yarns/rowan/panama
Looks like there’s a bit of confusion over the tension listed for the rowan panama yarn as when I look on both yarnsub and on the rowan site the tension for the rowan Panama is listed as 27 stitches on 3.25mm needles (which if worked on 4mm needles would produce fewer stitches, maybe the 24 listed on the pattern) but on ravelry the tension is listed as 24 stitches on 3.25mm. And the pattern you have chosen lists as 24 stitches on 4mm.
https://www.ravelry.com/yarns/library/rowan-panama
I realise this doesn’t answer your question and possibly causes more confusion.
If you have find a yarn you like knitting up a good size swatch and washing or blocking it before you count the stitches, will help to work out what size needles to use and if you like the resulting drape of the yarn.
The link to yarnsub above has several other yarns which might be suitable too although a swatch would still be needed.