The bug I had I had the same problem here on a fresh install of Win10 Full visual studio community 2015 update 3 . Creating a new project Xamarin Native (i Os Androird) shows up the same message as mentioned by Mike J.
In addition, running in debug F5 makes the designer have a new popup Problem seems to appear also here https://bugzilla.xamarin.com/show_bug.cgi?
An unexpected error has occured while updating required files Multi camchat sexy
id=44374 and here https://forums.xamarin.com/discussion/77669/how-do-i-fix-this-error-the-installed-android-sdk-is-too-old-version-25-1-3-or-newer-is-required . Opening the Android Manager does not show up version 25 as an option, instead it shows this However, we cannot install (greyed out button even by accepting license) Updating Xamarin did not work neither How to update Xamarin for Android within Visual Studio Community 2015 Some guidance would be great to understand what happened.
I had the same problem (when bringing up a new PC with Xamarin) and after a few days I solved the problem. I think the problem is with the path, which has space :) If you are already using Android Studio in your computer then this might solve your problem.
I moved sdk directory from "C:\Program Files (x86)\Android\android-sdk" to "C:\android-sdk". Check whether SDK is already available at some other location. To check SDK path- Open Android Studio- before you go through all that trouble (and I went through many convoluted steps myself for several hours) please try run your Visual Studio as administrator and see what happens! I used fresh WIN 10 and VS2015 Community install and I must have set some of my permissions to tight.
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VS didn't generate any kind of Activity Log so I believe the log must lie elsewhere.