Two teenagers were charged with endangering particular property by fire in Peregian Beach on Wednesday afternoon.
Police alleged the 14-year-old Peregian Springs boy and 15-year-old Coolum Beach girl were among a group of juveniles involved with deliberately lighting the fire on Monday afternoon.
Police Commissioner Katarina Carroll said 11 people were being dealt with by detectives.
"In some cases it's just kids lighting fire for fun and that fire has gotten away and impacted very badly," the Commissioner said.
The blaze destroyed one home, severely damaged another, and a significant area of bushland was also destroyed.