UPDATED 10pm: New Zealanders living in Vanuatu have described feeling a “strong but not severe” earthquake, but say there are no immediate reports of injury or damage.

This evening's earthquake in Vanuatu has now been revised down to 6.9 in magnitude from its original 7.2, and it poses no tsunami threat to New Zealand.

New Zealander Craig Arlidge, who manages Moyyan House by the Sea on the island of Espiritu Santo, said he “felt the wall shake for about five seconds” and water sloshed about in the rain water tank.

Owner of Barrier Beach House on Espiritu Santo Calvin Rhodes said the quake felt "strong but not severe".

The Pacific Tsunami Warning Centre has also revised the earthquake's depth to 33 kilometres, and says any tsunami threat arising from the quake has now largely passed.

The earthquake was centered on the island of Espiritu Santo, some 400 kilometres north west of the capital, Port Vila, just before 8.30 this evening our time.

The Pacific Warning Centre initially said tsunami waves were possible for coasts within 300 kilometres of the epicentre.

Vanuatu sits on the Ring of Fire, the arc of seismic faults around the Pacific Ocean where earthquakes are common.

In October last year, a 7.1 magnitude earthquake struck near Vanuatu.

No #tsunami threat to NZ based on current info about tonights 7.2 Vanuatu quake.

— MCDEM (@NZcivildefence) April 3, 2016