This article examines the relationship between reported levels of happiness, satisfaction, and risk perceptions during holiday experiences. Empirical examinations of this relationship have received limited attention by researchers, yet examining this topic has theoretical and practical value. Specifically, the purpose of our study was to examine perceptions of risk to holiday activities and hazards, levels of hedonic satisfaction and positive emotions, and sense of engagement and meaning in life as three core elements of happiness for international tourists visiting Vanuatu. The research method consisted of a 100-item self-completed questionnaire; the questionnaire items were based on consumer behavior, psychology, hazard, and risk perception literatures. Results show that our international tourist respondents report high levels of happiness and hedonic satisfaction, perceive the majority of holiday activities as safe, and regard the majority of hazards as posing no threat to their tourist experiences. The study suggests that personal characteristics may influence satisfaction, happiness levels, and risk perceptions, but significant correlations among satisfaction, happiness, and risk perceptions are limited. Theoretically, the study contributes to the growing literature on risk and satisfaction in tourism. Practical recommendations arising from this study include targeted education and awareness campaigns.