I found this bike a while back, all it says is Deluxe Palm Cycle on the head badge. It was all early Shimano 3.3.3. equipped. It looks to be pretty well made, even though it's likely plain steel.
It's lighter than a comparable Schwinn Traveler or Peugeot UO-8.
I've just never run across this brand in my 30+ years of working on bikes here.
I believe it was bought on the west coast somewhere near Palm Springs, CA but I'm not sure if that has anything to do with it's name or not.

Anyone seen one before? Heard of the brand back then?