  The evolution of massive stars surviving the red supergiant (RSG) stage
remains unexplored due to the rarity of such objects. The yellow hypergiants
(YHGs) appear to be the warm counterparts of post-RSG classes located near the
Humphreys-Davidson upper luminosity limit, which are characterized by
atmospheric instability and high mass-loss rates. We aim to increase the number
of YHGs in M33 and thus to contribute to a better understanding of the
pre-supernova evolution of massive stars. Optical spectroscopy of five
dust-enshrouded YSGs selected from mid-IR criteria was obtained with the goal
of detecting evidence of extensive atmospheres. We also analyzed BVI photometry
for 21 of the most luminous YSGs in M33 to identify changes in the spectral
type. To explore the properties of circumstellar dust, we performed SED-fitting
of multi-band photometry of the 21 YSGs. We find three luminous YSGs in our
sample to be YHG candidates, as they are surrounded by hot dust and are
enshrouded within extended, cold dusty envelopes. Our spectroscopy of star 2
shows emission of more than one H$\alpha$ component, as well as emission of
CaII, implying an extended atmospheric structure. In addition, the long-term
monitoring of the star reveals a dimming in the visual light curve of amplitude
larger than 0.5 mag that caused an apparent drop in the temperature that
exceeded 500 K. We suggest the observed variability to be analogous to that of
the Galactic YHG $\rho$ Cas. Five less luminous YSGs are suggested as post-RSG
candidates showing evidence of hot or/and cool dust emission. We demonstrate
that mid-IR photometry, combined with optical spectroscopy and time-series
photometry, provide a robust method for identifying candidate YHGs. Future
discovery of YHGs in Local Group galaxies is critical for the study of the late
evolution of intermediate-mass massive stars.
