III-V lasers based on self-assembled quantum dots (QDs) have attracted widespread interest due to their unique characteristics, including low threshold current density (Jth), low sensitivity to backreflections, and resistance to threading dislocations. While most work to date has focused on 1.3 μm InAs/GaAs QDs, InP QDs have also aroused interest in lasers emitting at visible wavelengths. Molecular beam epitaxy (MBE) enables the growth of high-density InP/AlGaInP QDs on exact (001)-oriented GaAs substrates but requires a relatively low substrate temperature of <500 °C. The low substrate temperature used for phosphide growth in MBE leads to degraded optical properties and makes post-growth annealing a crucial step to improve the optical quality. Here, we report the exceptional thermal stability of InP/AlGaInP QDs grown using MBE, with up to 50× improvement in room temperature photoluminescence intensity with the optimization of annealing temperature and time. We also demonstrate the room temperature pulsed operation of InP multiple quantum dot (MQD) lasers on GaAs (001) emitting close to 735 nm with Jth values of 499 A/cm2 after annealing, a factor of 6 lower than their as-grown counterparts and comparable to such devices grown by MOCVD. In0.6Ga0.4P single quantum well (SQW) lasers on GaAs (001) also exhibit a substantial reduction in Jth from 340 A/cm2 as-grown to 200 A/cm2 after annealing, emitting at 680 nm under pulsed operation conditions. This work shows that post-growth annealing is essential for realizing record-performance phosphide lasers on GaAs grown by MBE for applications in visible photonics.