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Despite lower‐than‐average total precipitation in the western states of the U.S., the 2021 "precipitation roller coaster" defined as large precipitation swings has pointed to a strong hydroclimatic intensity (HYINT). Here we examine the 2021 HYINT using an index—a product of the average precipitation intensity (INT) and dry spell length (DSL). HYINT exhibited an extremely high value in the western U.S. in 2021. INT and DSL contribute differently to the 2021 HYINT, with large spatial variability. Overall, the 2021 extreme HYINT in central California and Utah is tied more to large INT, than to DSL. Meanwhile, the historical trends in INT and DSL may have contributed to the extreme 2021 HYINT event. The fraction of attributable risk framework reveals that the 2021 extreme HYINT is more likely to occur with anthropogenic forcing (e.g., 7.3 times more likely for HYINT exceeding 1.3) than natural forcing alone. Plain Language Summary: The western U.S. is a hotspot for studying climate change impacts on the hydrological cycle. Despite lower‐than‐average total precipitation in 2021, the contrasting dryness and wetness in the western U.S. has been widely reported as a "precipitation roller coaster." In this paper we quantified the "precipitation roller coaster" using an index (hydroclimatic intensity [HYINT])—a product of average precipitation intensity during wet days and dry spell length (DSL). The study found that the 2021 extreme HYINT event was largely attributable to the combined impacts of precipitation intensity and DSL in California and Utah, with precipitation intensity playing a more important role. In contrast, the 2021 precipitation event in other western states exhibited divergent contributions from precipitation intensity and DSL. The southwestern U.S. has been identified as a hotspot for increasing HYINT, which is tied more to the increasing DSL than the precipitation intensity. The trends in DSL and precipitation intensity may have played a key role in driving the 2021 extreme HYINT event. Using climate model experiments with and without anthropogenic forcing, an extreme HYINT event in the western U.S. is more likely to occur with anthropogenic forcing. Key Points: Hydroclimatic intensity (HYINT) exhibited extremely high values in parts of the western U.S. in 2021, mainly caused by average precipitation intensityHYINT shows a significant rising trend in most of the southwestern U.S. mainly tied to a rising dry spell length trendThe extreme HYINT event is more likely to occur under anthropogenic forcing than natural forcing alone [ABSTRACT FROM AUTHOR]