It seems to now differ in some countries...!!
Flexible: Full refund 1 day prior to arrival, except fees
Cleaning fees are always refunded if the guest did not check in.
The Airbnb service fee is non-refundable.
Accommodation fees (the total nightly rate you're charged) are refundable in certain circumstances as outlined below.
If there is a complaint from either party, notice must be given to Airbnb within 24 hours of check-in.
Airbnb will mediate when necessary, and has the final say in all disputes.
A reservation is officially cancelled when the guest clicks the cancellation button on the cancellation confirmation page, which they can find in Dashboard > Your Trips > Change or Cancel.
Cancellation policies may be superseded by the Guest Refund Policy, extenuating circumstances, or cancellations by Airbnb for any other reason permitted under the Terms of Service. Please review these exceptions.
Applicable taxes will be retained and remitted.
For a full refund of accommodation fees, cancellation must be made a full 24 hours prior to listing’s local check in time (or 3:00 PM if not specified) on the day of check in. For example, if check-in is on Friday, cancel by Thursday of that week before check in time.
If the guest cancels less than 24 hours before check-in, the first night is non-refundable.
If the guest arrives and decides to leave early, the accommodation fees for the nights not spent 24 hours after the official cancellation are fully refunded.
