The article deals with ethical and methodological issues encountered in a qualitative inquiry into the effects of the Covid-19 pandemic on the lives of young adults aged 17 to 27 (n = 19) whose transitions to adulthood have been complicated for various reasons. The participants were reached through the Youth Shelters run by the Finnish Red Cross. Conducting this study in the exceptional societal circumstances caused by a global pandemic demonstrated the need for ethical and methodological reflection on how to comply with ethical principles when encountering research participants in vulnerable situations. According to these principles, participation in the study must be voluntary, the privacy of the participants must be protected, and they should not be harmed. In the article, we engage in self-critical contemplation of how we implemented these ethical principles in our research, and the lessons that can be learned from our experience – also from the point of view of research practices after the pandemic. Based on our experience, research ethical norms and guidelines do not always take into account the specifics of young people’s lives, and the guidelines may sometimes be incompatible with young people’s needs and wishes. Therefore, we conclude that conducting a youth-centred study requires situational and self-critical reflection from the researcher. Moreover, there is a need for in-depth collective debate among youth researchers, in order to reflect and learn from each other on how it is possible to make sustainable research ethical choices, especially in the rapidly changing societal conditions. The study is based on The impact of Covid-19 on young adults’ life courses and positionalities research, funded by the Academy of Finland, which is being conducted in the context of the ALL-YOUTH research project.