We consider non-stationary localized oscillations of an infinite Bernoulli-Euler beam. The beam lies on the Winkler foundation with a point inhomogeneity (a concentrated spring with negative time-varying stiffness). In such a system with constant parameters (the spring stiffness), under certain conditions a trapped mode of oscillation exists and is unique. Therefore, applying a non-stationary external excitation to this system can lead to the emergence of the beam oscillations localized near the inhomogeneity. We provide an analytical description of non-stationary localized oscillations in the system with time-varying properties using the asymptotic procedure based on successive application of two asymptotic methods, namely the method of stationary phase and the method of multiple scales. The obtained analytical results were verified by independent numerical calculations. The applicability of the analytical formulas was demonstrated for various types of an external excitation and laws governing the varying stiffness. In particular, we have shown that in the case when the trapped mode frequency approaches zero, localized low-frequency oscillations with increasing amplitude precede the localized beam buckling. The dependence of the ampli- tude of such oscillations on its frequency is more complicated in comparison with the case of a one degree of freedom system with time-varying stiffness.