Elastocaloric cooling systems can evolve into an environmentally friendly alternative to compressor-based cooling systems. One of the main factors preventing its application is a poor long-term stability of the elastocaloric material. This especially applies to systems that work with tensile loads and which benefit from the large surface area for heat transfer. Exerting compressive instead of tensile loads on the material increases long-term stability—though at the expense of cooling power density. Here, we present a heat transfer concept for elastocaloric systems where heat is transferred by evaporation and condensation of a fluid. Enhanced heat transfer rates allow us to choose the sample geometry more freely and thereby realize a compression-based system showing unprecedented long-term stability of 107 cycles and cooling power density of 6270 W kg−1.