Possibly, although it is unlikely. I have seen some judges allow this. However, most will not. Instead, you may want to ask the judge for a one-time postponement on your jury service as a compromise. He or she will be much more likely to allow for a postponement for this reason than to just excuse you completely.
The vast majority of "vacation" excuses I have seen in court have been denied. I think the reason for this is that many people will book a vacation as soon as they find out they have jury duty in an attempt to get out of it.
You would have the best chance of making this excuse work if you make the following clear to the judge during your chance to explain your situation (depending on what applies to your specific situation):
1 - Tell the judge the exact date that you booked the vacation and the exact date that you received your summons to court in the mail (hopefully you booked your vacation before you received your summons). Have proof with you if possible.
2 - Explain the cost you incurred on vacation and what aspects of the vacation are non-refundable. If others are relying on your presence, explain that as well.
3 - Explain the financial difficulty it will cause for your family if the money you saved up for this vacation were to go to waste.
Even with all these things prepared to explain to the judge, your chances are still relatively low on getting completely excused. That is why I suggest you ask for a postponement instead.