Ashley Iaconetti and Jared Haibon Get Engaged

Ashley Iaconetti has finally found her happy ending! The Bachelor Nation star is engaged to Bachelorette alum Jared Haibon, PEOPLE confirmed Monday, and it was all caught on camera for the upcoming season of Bachelor in Paradise.

In a photo obtained by PEOPLE, Haibon got down on one knee Sunday on the tropical beach of Paradise, where the couple's complicated relationship began almost exactly three years ago. In the photo, Iaconetti looks overjoyed in a chic yellow sundress, while Haibon is keeping things tropical casual in a white linen shirt and tan pants.

See the photo here.

Fans of BiP will remember Iaconetti's iconic tears during the second season of the Bachelor spinoff when Haibon didn't reciprocate her feelings. But the friendship they developed during that summer blossomed over the years into something romantic, they revealed in a May episode of Iaconetti's series The Story of Us (made by the producers of Married At First Sight and Seven Year Switch, Kinetic Content).

It was when Haibon heard that Iaconetti had begun dating Kevin Wendt on Bachelor Winter Games that he realized his feelings for his friend were more than platonic.

"I remember I heard rumors that you might have met somebody, and I was sad," Haibon said on The Story of Us. "Sometimes I need a kick in the a—. That was a big kick in the a—."

After Iaconetti and Wendt split in March, Haibon poured his feelings for her into a letter that immediately won over Iaconetti.

"I was scream-crying basically alone in my apartment reading that just sobbing and sobbing," she said.

Since then, the couple has been all over each other on social media, with Haibon even saying on Twitter he was fine being called Mr. Iaconetti.

"There's just this undeniable, magnetic force between the two of us that just is indescribable," Haibon told PEOPLE at the Nylon Young Hollywood Party last month. "Love conquered."

When asked if they were thinking about marriage at the time, the couple said they were definitely thinking longterm, but were enjoying their relationship the way it was at the time.

"As soon as we started dating, we both knew that this isn't just for us to date as boyfriend/girlfriend — this was more so we were going to date because we see a potential life partner in each other," Haibon explained. "We've talked about it but we're just dating right now, we're enjoying that. We literally just announced our relationship. The thing is, we've been so close for the past three years, I just know her inside and out. I know everything about Ashley."

Congratulations to the soon-to-be newlyweds!

A new season of Bachelor in Paradise premieres this summer on ABC.

Photo credit: Kinetic Content