brew install qemu

mkdir linux && cd linux
cp `brew --prefix qemu`/share/qemu/edk2-aarch64-code.fd .
cp `brew --prefix qemu`/share/qemu/edk2-arm-vars.fd .

qemu-img create -f qcow2 disk.qcow 40G

qemu-system-aarch64 \
  -machine virt \
  -cpu host \
  -accel hvf \
  -m 2G \
  -drive file=edk2-aarch64-code.fd,if=pflash,format=raw,readonly=on \
  -drive file=edk2-arm-vars.fd,if=pflash,format=raw \
  -drive file=disk.qcow2,if=virtio,format=qcow2 \
  -audio coreaudio,model=virtio \
  -monitor none -parallel none \
  -device virtio-gpu \
  -device qemu-xhci \
  -device usb-kbd \
  -device usb-tablet \
  -cdrom distro-aarch64.iso

Notes:

• If the system can't boot (e.g. after changing devices), reset edk2-arm-vars.fd by copying it again.
• If X is not needed, use -serial stdio -nographic for an inline invocation.
• Ctrl Option 1|2 - switch console.
• Ctrl Option Arrow - scroll console.
• Cmd F to enter fullscreen; Ctrl Option G (to uncapture mouse) then Cmd F to exit it.