You may be able to cancel it penalty-free if the listing in undergoing an event, like flooding or recent fire damage..., but you'll need to contact either you guest and request that he cancel (which is penalty-free), or ABnB to ensure that you are not penalized.
If you have a solid reason (such as medical situation for you or your family or flooding/housefire), it is best to contact Airbnb and let them cancel if at all possible. Theoretically, if you cancel with good reason, it should be possible to communicate with Airbnb after cancellation and not be punished for it, superhost-wise, but I understand this is harder, and they do not always accept the reason. Better to have them cancel if at all possible.