Two people are fighting for their lives and another has died after fire gutted a Gold Coast home.

Emergency services were called to Sickle Avenue, Hope Island about 11.45pm on Tuesday, following reports a residence was on fire.

After extinguishing the blaze, emergency crews located the body of a 38-year-old man inside the property.

Around five people were inside the residence at the time of the fire, with two men - aged 44 and 84 - sustaining life-threatening burn injuries.

Both men were transported to the Royal Brisbane and Women's Hospital for treatment.

A 38-year-old man managed to escape the house without injury, while a 59-year-old woman was taken to hospital with non-life threatening injuries.

The badly damaged house was declared a crime scene while police investigate the circumstances surrounding the fire.