Background: Research involving current and future generations of older adults in the design of smart home technology (SHT) is scarce. In this study, current and future generations of older adults, professionals, and researchers together sought to identify user needs and aspirations for and related to SHT. The aim was to co-produce prioritized ideas for SHT solutions to support engagement in everyday activities in later life. We used a research circle (RC) process to elicit perspectives among members from current and future generations of older adults, professionals with expertise in SHT, and health sciences researchers. Over half of the RC members had no previous experience with SHT. RC members met three times at a live-in instrumented home environment equipped with some SHT. Using this data, we conducted a content analysis. Results: SHT solutions for stimulating engagement in everyday activities were among the prioritized ideas. Examples included digital reminders to support everyday structure (e.g., meals, medications), interactive games to stimulate cognitive function and promote social interaction, and exercise prompts to maintain physical health. For safety, a digital door control and camera system was suggested to provide reassurance during home visits. Sensor-based technologies were proposed for monitoring and enabling continued autonomy by identifying changes in movement that may signal the need for timely support. The integration of SHT solutions into familiar objects, such as household furniture, was prioritized to minimize disruption to routines. RC members suggested an SHT system, which can coordinate between the closest neighbor groups to outsource support in urgent situations. Conclusions: Future and current generations of older adults express needs and aspirations for SHT that integrates into everyday routines as people age. They prioritize SHT solutions that enhance engagement in everyday activities, safety, security, and social interaction.