Can't access localhost from Android Windows Emulator

Hi, I am new to Xamarin but I understand I can access localhost from Android Emulator via 10.0.2.2:

This does not seem to work:

https://s23.postimg.org/calomedq3/localhost.jpg

You can see in the screenshot I can access Web api service fine on local host, but not the emulator. What am I missing? I am using Visual Studio Emulator for Android. Thanks.