The Pacific hurricane crashed into Acapulco with furious winds of 270km (165 miles) per hour, shattering windows, uprooting trees and largely cutting off communications and road links with the region.
It also partially destroyed many buildings, leaving gaping holes in the walls of high-rise towers, while overturning vehicles. Fishing boats and yachts were washed ashore.
President Andres Manuel Lopez Obrador arrived at the scene late on Wednesday, after his convoy found roads blocked by landslides and other debris, forcing officials to walk part of the way.
The government said that it had activated an emergency plan to bring essential supplies. The military was distributing 100,000 food packages and 800,000 litres of water, with more supplies on the way, a statement said.
Hurricanes hit Mexico every year on both its Pacific and Atlantic coasts, usually between May and November, though few make landfall as a category five.
Scientists have warned that storms are becoming more powerful as the world gets warmer with climate change.