The fire, at 96 South, was reported at about 9:45 p.m., and appeared to be out by about 10:20.
Only the homeowner, Peter Chan, was home at the time. No injuries were reported, though one firefighter was reported to have been stung by a wasp.
According to officials on the scene, the fire was ignited when Chan used a burning, gasoline-soaked rag wrapped around a stick in an effort to incinerate a wasp’s nest that was attached to eaves above a projecting porch.
Volunteer Red Bank firefighters, backstopped by their counterparts from Fair Haven and Fort Monmouth, cut two holes through the east-facing roof to relieve intense heat that built up from the blaze, which was confined to the attic.
Water damage from the firefighting effort was extensive, authorities said.