Alright, so I've started a new project and decided to run. When I hit yarn run ios, the project loaded in the simulator via Expo application.
I've started tinkering around and noticed a weird behaviour going on in the console. It was constantly rebuilding the application, even when I haven't done any changes.
09:58:17: Finished building JavaScript bundle in 27ms
09:58:17: Running app on edvins in development mode
09:58:20: Finished building JavaScript bundle in 24ms
09:58:21: Running app on edvins in development mode
09:58:21: Finished building JavaScript bundle in 19ms
09:58:21: Running app on edvins in development mode
09:58:27: Finished building JavaScript bundle in 92ms
09:58:27: Finished building JavaScript bundle in 21ms
09:58:28: Running app on edvins in development mode
09:58:31: Finished building JavaScript bundle in 21ms
09:58:32: Finished building JavaScript bundle in 21ms
09:58:32: Finished building JavaScript bundle in 18ms
09:58:33: Running app on edvins in development mode
09:58:33: Stopping packager...
09:58:33: Packager stopped.
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node -v v8.9.4
npm -v 5.6.0
yarn --version 1.3.2
watchman version 4.7.0

I think this was happening because of the iCloud was syncing the folder.
Most helpful comment
I think this was happening because of the iCloud was syncing the folder.