While they both admitted that they have "strict orders" to not reveal too much about the special proposal -- which went down in Mexico while the two were filming for the upcoming season of Bachelor In Paradise -- Iaconetti revealed to ET's Katie Krause that she certainly got emotional.
"Of course there were tears!" she said, smiling. "That's kind of a dead giveaway."
The beach proposal looked stunning with Iaconetti, 30, in a buttercup yellow dress while Haibon, 29, got down on one knee in the sand while wearing a white button-down shirt and khaki pants.
While fans have seen photos of Haibon popping the question, the couple have not yet shown off Iaconetti's shiny new sparkler -- which she wasn't even able to wear to the launch party event.
"We have to hide it for a little bit!" the reality star said of her engagement ring.
"It's just not here as of right now," Haibon chimed in. "But there is a metaphorical ring on her finger."
"It already feels weird to not have it on," added Iaconetti.
While they are staying tight-lipped about the proposal itself, they both cheerfully reflected on what they feel has changed in the short time since getting engaged.
"The fact that we get to call each other 'fiancé' is probably the biggest difference," Iaconetti said."
"There hasn't been a difference in our relationship which is pretty cool but you know I just fall in love with her more and more every day," Haibon added. "We just got engaged so I think we're just soaking that in right now and really enjoying our time together."
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'Bachelor in Paradise' Stars Ashley Iaconetti and Jared Haibon are Engaged -- See Pictures!
The couple also revealed that they are also not yet living together, but that will be changing "in a couple months from now."
"I just moved into a new place so it's still getting settled in," Iaconetti explained. "He needs to bring his dog over here and then, in the winter [or] late fall, we'll start mending all of that together."
While they both stressed that they haven't started planning their future wedding, they admitted that they are pretty sure they want to tie the knot sometime next year.
Also, Iaconetti said she's "pretty set on a princess dress," and that she feels her fiance and her have rather similar taste in engagement rings and wedding dresses -- which she knows from watching the TLC series Say Yes to the Dress together.
"We'll watch Say Yes to the Dress and I'm like, 'Ugh, I have to watch this show,'" Haibon clarified. "And then 20 minutes in I'm like, 'Why is she picking this dress?? What is going on!' It's amazing how invested I get in it. And then I'm like 'Ugh, I'll never watch it again! Ooh new episode!'"
While they don't have any other specifics nailed down for the wedding, the couple admitted that they "have somebody in mind" when it comes to who they will get to officiate the ceremony.