The main paths by which zeolites carry out the dehydration of fructose to HMF and the rehydration of HMF to levulinic acid in aqueous solutions are elucidated using an H-BEA zeolite with SiO2/Al2O3 = 18 (H-BEA-18) as a representative solid acid catalyst. Specifically, the relative role of homogeneous chemistry (both solvent- and zeolite-induced), the effect of external surface acid sites, and the effect of adsorption of products and reactants on the catalyst for these reactions is delineated. We found that H-BEA-18 increases the conversion of fructose and HMF in part by catalyzing fructose isomerization to glucose and HMF rehydration to formic and levulinic acids, respectively. The glucose-to-fructose isomerization is caused by octahedral aluminum atoms that act as Lewis acid sites as shown by 1H and 13C NMR. These Lewis sites are formed during calcination and are stable under reaction conditions. They also catalyze reactions to unknown products from both fructose and HMF. The acids produced from HMF rehy...