The role of fire in vegetation-soil–water interactions and its implications for soil stability and slope failures is poorly documented in humid tropical regions. This paper focuses on the relationships between vegetation change through recurrent fire and its effects on hydraulic conductivity and soil suction. Two monitoring sites were chosen on steep slopes in the mountainous domain of the Atlantic rainforest: the first is representative of degraded secondary rainforest (DRf) 25–30 years after slash and burn agriculture; the other represents herbaceous-shrubby vegetation (HS) resulting from wildfires in short-time intervals (<5 years). Two fires had previously occurred on the HS slope, one in December 2014 and the other in September 2019. Continuous records of rainfall and soil suction at depths of 10, 20, 50, 100, 150, and 220 cm provided a 6-year data collection from January 2015 to December 2020. Hydraulic conductivity (Ksat) field tests were conducted around the two monitoring sites before and after the September 2019 fire. The main results include: a) soil suction in the topsoil of both vegetation covers follow the rainfall inputs with high values of Ksat (DRf = 195 mm/h; HS = 203 mm/h); b) while quick rainfall-suction responses prevail within the DRf soil profile, soil suction at HS maintains a mean suction value around -27 kPa below 100 cm deep; c) field observations attest to the occurrence of hydrophobicity after the 2019 fire; d) Ksat tests just after this fire indicated a decreasing mean value from 203 mm/h to 46 mm/h; and e) by the end of the dry season after fire, there is a delayed increase in soil suction reaching -143 kPa at a depth of 100 cm and in smaller proportions at 220 cm deep. These results indicate that post-fire soil changes tend to favor the sudden loss of soil stability and slope failure during extreme rainfall events.