An efficient Green’s function solution for acoustic initial value problems in homogeneous media with power law absorption is derived. The solution is based on the homogeneous wave equation for lossless media with two additional terms. These terms are dependent on the fractional Laplacian and separately account for power law absorption and dispersion. Given initial conditions for the pressure and its temporal derivative, the solution allows the pressure field for any time t>0 to be calculated in a single step using the Fourier transform and an exact k-space time propagator. For regularly spaced Cartesian grids, the former can be computed efficiently using the fast Fourier transform. Because no time stepping is required, the solution facilitates the efficient computation of the pressure field in one, two, or three dimensions without stability constraints. Several computational aspects of the solution are discussed, including the effect of using a truncated Fourier series to represent discrete initial conditions, the use of smoothing, and the properties of the encapsulated absorption and dispersion.