Panaeati Island is the largest island, densely forested in the Deboyne Island Group at the northern edge of Deboyne Lagoon. Also known as "Panniet Island". The island has a single conical peak with an elevation of 221m. A Wesleyan Mission is located on the western coast of the island. To the south is Panapompom Island and Nivani Island.
During May 6-10, 1942 the Japanese occupied the Deboyne area during the Battle of the Coral Sea. During late May or early June, the wreckage of G4M1 Betty 2271 Tail F-378 was moved or washed ashore onto the southern coast of Panaeati Island.
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August 25, 2018