Community-based participatory research (CBPR) approaches have been important avenues for addressing community vulnerability during pandemics and times of crises. There has been little guidance, however, on how to approach CBPR within the context of the COVID-19 pandemic where physical distancing and closure of essential community organizations became the norm. This study discusses challenges and possibilities of using CBPR during a pandemic to address the needs of immigrant and racialized older adults in Alberta, Canada. Two case studies of active research projects that aim to engage immigrant and racialized older adults are presented. Three key challenges are identified related to research activities during the pandemic: (a) pivoting as new foci emerge, (b) recognizing inequity in research participation, and (c) reflecting on well-being in the research team. Approaches to addressing these challenges are highlighted with recommendations for future considerations in CBPR research within vulnerable communities.