The Bureau of Meteorology (BOM) said Cyclone Kimi was travelling southeast about 150km north of Townsville about 7pm AEST on Monday.

Queensland Fire and Emergency Services issued an emergency alert cyclone warning for Palm Island residents at 4.50pm AEST, with Kimi expected to pass near the island within 24 hours.

"Palm Island residents should prepare now for destructive winds and heavy rain tonight and Tuesday. Please advise family and friends in the area," the alert says.

While gathering strength throughout the day Kimi was expected to start weakening overnight or on Tuesday and perhaps not cross the coast.

"The system's movement has been erratic, however, due to its recent movement towards the south-southeast, a coastal crossing between Hinchinbrook Island and Townsville tonight or early tomorrow is now unlikely," the BOM said on Monday evening.

Whatever Kimi does, forecasters warn the weather system is likely to pack winds up to 130km/h, with heavy rain and flash flooding possible.

Residents from Innisfail to Bowen, including Townsville, have also been told to prepare for abnormally high tides.

Premier Annastacia Palaszczuk urged people to listen carefully for updates on where the cyclone moves.

"Everybody in the north ... should be listening to the media reports very, very closely because the bureau will be giving those reports every three hours, and we'll be giving a further update from the state government this afternoon," she said.

People between Innisfail and Ayr are also being urged to secure boats and homes in particular.

"I know we're Queenslanders, I know we go through cyclones every single year but please do not be complacent," Police Minister Mark Ryan said.

"There is something predictable about cyclones and that is the damage and the risk they bring."

The bureau also warns that heavy rainfall could bring flash flooding and major river flooding to coastal and hinterland areas between Innisfail and Ayr on Monday and Tuesday.

A flood watch was issued for waterways including the Tully, Thomson, Cooper, Diamantina, Georgina, Norman and Gilbert rivers, as well as Eyre Creek.

"So if you're in those areas you need to prepare ... if it's flooded forget it, have a plan about where you'll be travelling, bear in mind where those river catchments are, be aware that during this event you could have flash flooding," he said.

Parts of the Wooroonooran, Girramay and Paluma Range national parks, and Abergowrie State Forest have been closed.

With the cyclone set to dump rain on large parts of Queensland's interior, flood warnings have also been issued for a number of inland rivers.

Australian Associated Press