Sagay Foundation Day is observed in the municipality of Sagay, located in the province of Camiguin, Philippines, every July 31. This special non-working holiday commemorates the establishment of Sagay as a separate municipality following its split from Catarman. The area, which was originally an outlying community under Catarman's jurisdiction, became an independent parish in 1848 and was formally recognized as a municipality in 1909 during the American colonial period. The celebration highlights Sagay's agricultural heritage, as the community has historically produced abacá, rice, coconuts, bananas, cacao, and coffee. Today, while agriculture remains central to the local economy, tourism has gained significance due to Camiguin's attractions, including volcanoes, hot springs, waterfalls, and beaches. It is important to note that Sagay Foundation Day should not be confused with Sagay City Charter Day, which is celebrated in Sagay City, Negros Occidental.