The carbon-rich AGB star V Hya is believed to be in the very brief transition phase between the AGB and a planetary nebula (PN). Using HST/STIS, we previously found a high-velocity (> 200 kms−1) jet or blob of gas ejected only a few years ago from near (< 0.3 arcsec or 150 AU) the star (Sahai et al. 2003, Sahai et al. 2016). From multi-epoch high-resolution spectroscopy we found time-variable high-velocity absorption features in the CO 4.6 μm vibration-rotation lines of V Hya (Sahai et al. 2009). Modeling shows that these are produced in compact clumps of outflowing gas with significant radial temperature gradients consistent with strong shocks. Here, we present very high resolution (∼100 milliarcsecond) imaging of the central region of V Hya using the coronagraphic mode of the Gemini Planet Imager (GPI) in the 1 μm band and spectral-spatial imaging of 4.6 μm CO 1-0 transitions using the Phoenix spectrometer. We report the detection of a compact central dust disk from GPI, and molecular emission from the Phoenix observations at relatively larger scales. We discuss models for the central structures in V Hya, in particular disks and outflows, using these and complementary images in the optical and radio.