Setup:

npm install
npm start

To build dist folder for deployment:

npm build

On Vagrant/Homestead?

Tweak package.json:

"start": "webpack-dev-server --inline --progress --port 8080 --host 0.0.0.0",

Tweak config/webpack.dev.js, add this block in the config object:

watchOptions: {
    poll: true
}

After running npm start, if you can't access localhost:8080 from your browser, set up port forwarding in your vagrantfile:

Vagrant.configure("2") do |config|
  config.vm.network "forwarded_port", guest: 8080, host: 8888
end

Which would make the site available at localhost:8888.