Methods, systems, and computer program products for black box techniques for detecting performance and availability issues in virtual machines exploiting hardware assisted virtualization are provided herein. A computer-implemented method includes capturing multiple hardware assisted virtualization exit calls generated in connection with a given virtual machine; calculating one or more virtual machine performance metrics attributed to the given virtual machine based on the multiple hardware assisted virtualization exit calls; determining one or more virtual machine performance issues and/or one or more virtual machine availability issues attributed to the given virtual machine based on the one or more calculated virtual machine performance metrics; and outputting an alert identifying the one or more determined virtual machine performance issues and/or the one or more virtual machine availability issues attributed to the given virtual machine.