It moved westward through the Caribbean, intensifying into a tropical storm on October 5 south of Puerto Rico, and into a hurricane on the following day.

While passing south of the Dominican Republic, Iris dropped heavy rainfall that caused landslides, killing eight people.

A small hurricane with an eye of only 7 mi (11 km) in diameter, Iris reached peak winds of 145 mph (233 km/h) before making landfall in southern Belize near Monkey River Town on October 9.

The hurricane quickly dissipated over Central America, although its remnants contributed to the formation of Tropical Storm Manuel in the eastern Pacific Ocean.

The hurricane caused severe damage—destroying homes, flooding streets, and leveling trees—in coastal towns south of Belize City.

Iris killed 24 people in Belize, including 20 who died when a scuba diving boat capsized near Big Creek.

Although its low-level circulation was small and poorly defined, the system increased in organization enough to be classified as Tropical Depression Eleven at 12:00 UTC on October 4, located about 100 mi (160 km) southeast of Barbados.

Compared to its appearance 24 hours before forming, the depression exhibited improved outflow and more distinct convection, although its lower circulation remained very poorly organized.

[4] This was confirmed by a Hurricane Hunters flight into the system, which failed to report a closed circulation despite the depression's well-organized appearance on satellite imagery.

Based on these data, the depression was upgraded to Tropical Storm Iris, situated about 155 mi (249 km) south of the southern coast of Puerto Rico.

Its trajectory was influenced by a strong subtropical ridge located to the north of the tropical cyclone, which dominated the steering pattern.

[6] In post-season analysis, the National Hurricane Center (NHC) estimated that Iris had attained tropical storm status about nine hours earlier.

[3] In their first discussion on Iris, the NHC mentioned the potential for the system to degenerate into a tropical wave if it maintained its fast forward speed.

[6] Although its overall appearance did not change significantly, the Hurricane Hunters reported a closed eye with a diameter 23 mi (37 km) and a stadium effect (eyewall curvature) on October 6.

[7] Later that day, Iris reached hurricane strength just southwest of the southern tip of the Dominican Republic,[3] and the NHC remarked that land interaction with the Greater Antilles was the only factor impeding further development.

This resulted in a temporary and slight weakening during an eyewall replacement cycle, but within a few hours Iris re-intensified to attain peak winds of 145 mph (233 km/h) just off Belize.

At 02:00 UTC on October 9, it made landfall at peak intensity in Monkey River Town in the southern portion of Belize.

[15] Over a stretch of four days, sixteen tropical cyclone watches and warnings were issued in association with Iris, affecting the Dominican Republic, the Cuban provinces of Granma and Santiago de Cuba, Jamaica, Cayman Islands, the Yucatán Peninsula, Guatemala, Honduras and Belize.

Pan American Health Organization staff were on standby in Belize, Guatemala and Honduras and were ready to respond to any post-storm disease outbreaks.

[18] On October 8, the Government of Honduras declared a red alert for all northern regions, advising residents to expect "extreme weather conditions".

[24] In the Dominican Republic, Iris dropped around 3 in (76 mm) of rainfall along the coast, forcing 35 families to evacuate their homes after rivers exceeded their banks.

[16] A 120 ft (37 m) scuba diving boat overturned during the hurricane near Big Creek, Belize, possibly hit by a tornado.

[30] At Placencia near the coast, about 80% of the homes were destroyed and many of the remaining buildings had roof damage, with downed power poles in the streets.

[52] On October 9, the government of Belize issued the "all clear" signal, indicating that the storm had fully passed, and began reconstruction efforts and damage assessment.

By the day after the storm struck, the airport in Belize City had been reopened, and transportation in all but the southern portion of the country returned to normal.

The Belize government printed a new postage stamp to help pay for reconstruction costs, and officials authorized spending $1.2 million to rebuild damaged homes.

[56] The government of Belize issued an appeal to the international community for assistance in the days following Iris's landfall,[57] and various countries provided aid.

[58] Although sustaining significant damage, the Government of Guatemala deployed a working team with members from throughout the country to assist in recovery in Belize.

[27] On account of the damage left behind by the hurricane in Guatemala and Belize, the name Iris was retired in the spring of 2002 by the World Meteorological Organization and will never again be used for a North Atlantic tropical cyclone.