Four appliances — one each from Luggate and Lake Hawea and two from Wanaka — attended the blaze in Wilkin Rd just before 2.30am.
Wanaka Volunteer Fire Brigade Station Officer and incident manager Jodie Rainsford said the three-bedroom timber house was "fully involved" when fire crews arrived.
The two occupants had escaped unharmed and were standing with neighbours across the road, but their pet cat and dog perished in the fire, she said.
Ms Rainsford said fire crews managed to bring the blaze under control "very quickly" but there was extensive damage to the entire house.
The volunteer fire crews left about 5am but returned at 7.30am to extinguish smouldering hot spots and flare-ups.
Fenz fire investigator Marty Jillings arrived just before 9.30am to meet the property’s visibly shaken and upset occupants.
