With the increasing growth of wind farm installations, the impact of wake effects caused by wind turbines on power output, structural loads, and revenue has become more relevant than ever. Consequently, there is a need for precise simulation tools to facilitate efficient and cost-effective design and operation of wind farms. To address this need, we present HAWC2Farm, a dynamic and versatile aeroelastic wind farm simulation methodology that combines state-of-The-Art engineering models to accurately capture the complex physical phenomena in wind farms. HAWC2Farm employs the aeroelastic wind turbine simulator, HAWC2, to model each individual turbine within the wind farm. It utilises a shared, large-scale turbulence box to represent atmospheric flow field effects at the farm level. The methodology incorporates a modified version of the dynamic wake meandering model to accurately capture wake interactions. This approach not only ensures computational efficiency but also provides valuable insights for wind farm design and operation. To assess its performance, HAWC2Farm is compared using time series extracted from field measurements at the Lillgrund wind farm, encompassing various scenarios involving wake steering via yaw control and a turbine shutdown. The results indicate that HAWC2Farm effectively addresses the challenges associated with modelling the complex dynamics within wind farms, thereby enabling more precise, informed, and cost-effective design and operation strategies.