Whakaari/White Island's volcanic alert level will be lowered to level two following an "absence of clear eruptive activity" since Saturday, GNS Science says.
The alert level indicates moderate to heightened unrest and is associated with "volcanic unrest hazards", including the discharge of steam and hot volcanic gases, earthquakes, landslides, and hydrothermal activity.
The aviation colour code has been lowered to yellow, meaning volcanic activity has decreased significantly but continues to be closely monitored for a possible renewed increase.
Minor eruptions saw a steam and gas plume rise to more than 2km on Friday morning. The eruptions saw the alert level rise from level two to three, indicating minor volcanic eruptions and eruption hazards near the vent.
It was followed by two eruptions on Saturday.
An observation flight by volcanologists today was unable to "detect any further eruptive activity at Whakaari / White Island".
"However, we cannot rule out any low-level activity that is not visible in our views. When the views are clear, we have observed the typical steam and gas emissions from the active vents with no ash emissions," the research institute said today in a volcano activity bulletin.
"Analysis of data collected during a gas flight on Monday indicated elevated levels of magmatic gas compared to previous observations in April and early May. Measured gas compositions indicate that magma is degassing beneath the volcano, possibly enabled by the eruptions on Friday and Saturday last week.
"During the gas flight, there were no eruptions observed, and there was a general lack of ejecta around the vent area."
GNS Science warned that while the volcanic alert has been lowered, "eruptions can still occur with little or no warning".
"This is particularly the case following the minor eruptions last week and the presence of elevated magmatic gas emissions."
It said the absence of sensors on the island has meant researchers are relying on webcams and satellite imagery, as well as gas and observation flights to assess volcanic activity on the island.
Further gas and observation flights will be carried out by GNS Science volcanologists in the coming days and weeks to monitor the activity.
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