In this article, I argue for a broadening of the conceptualisation of wellbeing in the scholarly and policy literature on the topic. I do so as, despite the calls for the inclusion of place in analyses of wellbeing, the literature on the topic still carries a dominant conception of wellbeing as a measurable index based on Euro-American practices and discourses, with their associated views of humanity and nature. I will advance the discussion on wellbeing’s intimate connection to place and place-based consciousness through an ethnographic engagement with kametsa asaiki (‘living well together’), an ethos of wellbeing pursued by indigenous Ashaninka people in the Peruvian Amazon. This is a revealing context as Peru exemplifies how extractive development initiatives tend to misrecognise or underestimate their socio-natural consequences on local pursuits of wellbeing. I argue that an understanding of the role of place and place-based consciousness in wellbeing is key to enhancing the concept’s utility in policy and practice, especially due to its centrality in the United Nations Sustainable Development Goals. In doing so, I call for further ethnographic explorations of the link between wellbeing models and understandings of humanity and nature.