A vertical-cavity surface-emitting laser (VCSEL) was fabricated using a in situ reflectance monitor by molecular beam epitaxy (MBE). Both the center wavelength of the stop band of the distributed Bragg reflector (DBR) and the resonant wavelength of the optical cavity were successfully controlled using the monitor. However, these wavelengths shifted with decreasing substrate temperature after the growth, which could be reasonably explained by the temperature dependence of refractive index. Therefore, it is necessary to set a target wavelength at a growth temperature, considering the change. The desirable laser performance of the VCSEL fabricated from the wafer indicates marked increases in the controllability and reproducibility of growth with the aid of the in situ reflectance monitor. Since it can directly measure the optical properties of the grown layers, the reflectance monitor greatly helps in the fabrication of a structure with the designed optical performance.