And DailyMail.com has learned that many of the fleeing super wealthy have flowed into the luxury hotels in nearby Beverly Hills that charge $700 a night.
Several top hotels like the Beverly Hills Hotel, The Four Seasons Beverly Hills, the Peninsula Hotel and the Waldorf Astoria are all sold out.
A source told DailyMail.com they scrambled to get high-class accommodations after being forced to leave their $7M home in the Palisades.
'They sold out so fast, as soon as people started smelling smoke they went on hotels.com,' said the alarmed PP resident.
She also said the hotel is packed to the gills.
'There are people everywhere, hauling in their Gucci luggage and animals, dogs and cats too, I saw a parrot in a cage. It's a madhouse,' she added.
And the bar is full.