Rapid changes in ground tilt and GPS positions on Kīlauea Volcano, Hawai'i, are interpreted as resulting from a shallow, two‐segment dike intrusion into the east rift zone that began at 1217 UTC (0217 HST) on 17 June 2007 and lasted almost 3 days. As a result of the intrusion, a very small volume of basalt (about 1500 m³) erupted on 19 June. Northward tilt at a coastal tiltmeter, subsidence of south flank GPS sites, southeastward displacements at southwestern flank GPS sites, and a swarm of flank earthquakes suggest that a slow slip event occurred on the décollement beneath Kīlauea's south flank concurrent with the rift intrusion. We use 4 min GPS positions that include estimates of time‐dependent tropospheric gradients and ground tilt data to study the spatial and temporal relationships between the two inferred shallow, steeply dipping dike segments extending from the surface to about 2 km depth and décollement slip at 8 km depth. We invert for the temporal evolution of distributed dike opening and décollement slip in independent inversions at each time step using a nonnegative least squares algorithm. On the basis of these inversions, the intrusion occurred in two stages that correspond spatially and temporally with concentrated rift zone seismicity. The dike opening began on the western of the two segments before jumping to the eastern segment, where the majority of opening accumulated. Dike opening preceded the start of décollement slip at an 84% confidence level; the latter is indicated by the onset of northward tilt of a coastal tiltmeter. Displacements at southwest flank GPS sites began about 18 h later and are interpreted as resulting from slow slip on the southwestern flank. Additional constraints on the evolution of the intrusion and décollement slip come from inversion of an Envisat interferogram that spans the intrusion until 0822 UTC on 18 June 2007, combined with GPS and tilt data. This inversion shows that up to 0822 UTC on 18 June, décollement slip is only required in a limited region offshore of Ka'ena Point. A similar inversion of the complete event, which includes GPS and tilt data up to 21 June and a second Envisat interferogram spanning the complete intrusion until 21 June, shows décollement slip spread westward across the south flank. This may suggest westward migration of the décollement slip as the event progressed.