Novel synthesis of diversely substituted 2-(furan-3-yl)acetates via palladium-catalyzed one-pot multi-component reactions of allenols, aryl iodides, alcohols, and carbon monoxide has been developed. Notably, the formation of the title compounds features a cascade process combining carbonylation of aryl iodide, alcohoxyl carbonylation of the in situ formed allyl palladium complex, and intramolecular condensation of the α-hydroxyl enone intermediate. Moreover, the 2-(furan-3-yl)acetates obtained herein were found to be ready intermediates for the construction of the biologically significant naphtho[1,2-b]furan-5-ol scaffold.