Whether equilibrium dynamics between extinction and processes generating new species governs biodiversity, or instead stochastic changes shape diversity over time is one of the central questions in evolutionary biology. But tests of equilibrium dynamics since MacArthur and Wilson formulated their model have primarily involved colonization and extinction, neglecting speciation. Analyses using recently developed algorithms fitted to branching times for both extant and extinct bats from the Greater Antilles reveal a 20-40-million year equilibrium between high extinction rates offset by both colonization and speciation. Since at least 13 species have gone extinct over the last 20,000 years, however, this fauna is no longer in equilibrium. It would take millions of years for dynamics were to restore the lost diversity to their equilibrium preceding the Holocene. There is a longstanding debate on whether this pulse of mammalian extinction, which extended to all of North America, is linked to human colonization, or instead corresponds to the loss of island area and climate change at the end of the last glaciation. On the islands, however, humans only arrived a few thousand years ago, providing an opportunity to test these hypotheses. Bayesian models of the difference between faunal last appearance and human first appearance, together with the largest database of archaeological and paleontological radiocarbon dates reveal the majority of extinction events occurred after human arrival. While some large bodied species were lost soon after human colonization and may have been hunted, others may have been vulnerable to pre-Columbian agriculture, and many more to predators introduced during European colonization. The demise of the Caribbean mammal fauna as a result of increasing human transformation of local ecosystems provides lessons for our own time and the extinction events today and into the future.