Numerical simulation of subaerial, magma‐driven, saline hydrothermal systems reveals that fluid phase separation near the intrusion is a first‐order control on the dynamics and efficiency of heat and mass transfer. Above shallow intrusions emplaced at <2.5 km depth, phase separation through boiling of saline liquid leads to accumulation of low‐mobility hypersaline brines and halite precipitation, thereby reducing the efficiency of heat and mass transfer. Above deeper intrusions (>4 km), where fluid pressure is >30 MPa, phase separation occurs by condensation of hypersaline brine from a saline intermediate‐density fluid. The fraction of brine remains small, and advective, vapor‐dominated mass and heat fluxes are maximized. We thus hypothesize that, in contrast to pure water systems, for which shallow intrusions make better targets for supercritical resource exploitation, the optimal targets in saline systems are located above deeper intrusions.