Maglev vehicles, which are levitated and propelled by electromagnets, often run on elevated flexible guideways comprised of steel, aluminum and concrete. Therefore, an analysis of the dynamic interaction between the Maglev vehicle and the flexible guideway is needed in the design of the critical speed, ride, controller design and weight reduction of the vehicle. This study introduces a dynamic interaction simulation technique that applies structural dynamics. Because the proposed method uses detailed 3D FE models, it is useful to analyze the deformation of the elevated flexible guideway, the dynamic stress, and the motion of the vehicle. By applying the proposed method to an urban transit Maglev vehicle, UTM01, the dynamic response is simulated and validated. From the result of the study, we concluded that the simulation of dynamic interaction between the Maglev vehicle and the flexible guideway is possible and a potential of using computational mechanics.