diff --git a/homeassistant/components/switchbot_cloud/__init__.py b/homeassistant/components/switchbot_cloud/__init__.py
index 1a697a2ed9a6..53cc147d7879 100644
--- a/homeassistant/components/switchbot_cloud/__init__.py
+++ b/homeassistant/components/switchbot_cloud/__init__.py
@@ -1,6 +1,6 @@
 """SwitchBot via API integration."""
 
-from asyncio import gather
+from asyncio import Lock, gather
 from collections.abc import Awaitable, Callable
 import contextlib
 from dataclasses import dataclass, field
@@ -310,9 +310,13 @@ async def async_setup_entry(
     )
     entry.runtime_data = SwitchbotCloudData(api=api, devices=switchbot_devices)
 
-    await hass.config_entries.async_forward_entry_setups(entry, PLATFORMS)
+    # One at a time, so the cloud connecting cannot register a webhook next to
+    # the one being registered here
+    webhook_lock = Lock()
 
-    await _initialize_webhook(hass, entry, api, coordinators_by_id)
+    async def _async_initialize_webhook() -> None:
+        async with webhook_lock:
+            await _initialize_webhook(hass, entry, api, coordinators_by_id)
 
     async def _handle_cloud_connection_change(
         state: cloud.CloudConnectionState,
@@ -324,12 +328,20 @@ async def async_setup_entry(
         and re-register it with SwitchBot's cloud so push devices work.
         """
         if state is cloud.CloudConnectionState.CLOUD_CONNECTED:
-            await _initialize_webhook(hass, entry, api, coordinators_by_id)
+            await _async_initialize_webhook()
 
+    # Listening before the first attempt, so a cloud that connects while the
+    # entry is still setting up is not missed
     entry.async_on_unload(
         cloud.async_listen_connection_change(hass, _handle_cloud_connection_change)
     )
 
+    await _async_initialize_webhook()
+
+    # Forwarded last, so a failure above cannot leave the platforms set up for a
+    # retry to set up a second time
+    await hass.config_entries.async_forward_entry_setups(entry, PLATFORMS)
+
     return True
 
 
@@ -445,12 +457,16 @@ async def _async_get_webhook_url(
             return str(entry.data[CONF_CLOUDHOOK_URL])
         if cloud.async_is_connected(hass):
             webhook_id = entry.data[CONF_WEBHOOK_ID]
-            cloudhook_url = await cloud.async_get_or_create_cloudhook(hass, webhook_id)
-            hass.config_entries.async_update_entry(
-                entry, data={**entry.data, CONF_CLOUDHOOK_URL: cloudhook_url}
-            )
-            _LOGGER.debug("Created SwitchBot Cloud cloudhook: %s", cloudhook_url)
-            return cloudhook_url
+            # The cloud can go away between being asked and being used
+            with contextlib.suppress(cloud.CloudNotAvailable):
+                cloudhook_url = await cloud.async_get_or_create_cloudhook(
+                    hass, webhook_id
+                )
+                hass.config_entries.async_update_entry(
+                    entry, data={**entry.data, CONF_CLOUDHOOK_URL: cloudhook_url}
+                )
+                _LOGGER.debug("Created SwitchBot Cloud cloudhook: %s", cloudhook_url)
+                return cloudhook_url
 
     return webhook.async_generate_url(
         hass,
diff --git a/tests/components/switchbot_cloud/test_init.py b/tests/components/switchbot_cloud/test_init.py
index 8667bc51a61d..a20492c33656 100644
--- a/tests/components/switchbot_cloud/test_init.py
+++ b/tests/components/switchbot_cloud/test_init.py
@@ -425,6 +425,54 @@ async def test_setup_creates_cloudhook_when_cloud_active(
         mock_setup_webhook.assert_called_once_with(CLOUDHOOK_URL)
 
 
+async def test_setup_survives_the_cloud_going_away(
+    hass: HomeAssistant,
+    mock_list_devices: AsyncMock,
+    mock_get_status: AsyncMock,
+    mock_get_webook_configuration: AsyncMock,
+    mock_delete_webhook: AsyncMock,
+    mock_setup_webhook: AsyncMock,
+) -> None:
+    """Test the entry still loads when the cloud goes away mid-setup.
+
+    The connection is checked before the cloudhook is created, so it can be
+    gone by the time it is used. The local URL carries it until the
+    connection change listener creates the cloudhook.
+    """
+    await async_process_ha_core_config(
+        hass,
+        {"external_url": "https://example.com"},
+    )
+    await mock_cloud(hass)
+    await hass.async_block_till_done()
+
+    mock_get_webook_configuration.return_value = {"urls": []}
+    mock_list_devices.return_value = [_water_detector()]
+    mock_get_status.return_value = {"battery": 100}
+    mock_delete_webhook.return_value = {}
+    mock_setup_webhook.return_value = {}
+
+    with (
+        patch("homeassistant.components.cloud.async_is_logged_in", return_value=True),
+        patch("homeassistant.components.cloud.async_is_connected", return_value=True),
+        patch.object(cloud, "async_active_subscription", return_value=True),
+        patch(
+            "homeassistant.components.cloud.async_get_or_create_cloudhook",
+            side_effect=CloudNotAvailable,
+        ),
+        patch("homeassistant.components.cloud.async_delete_cloudhook"),
+    ):
+        entry = await configure_integration(hass)
+
+    assert entry.state is ConfigEntryState.LOADED
+    assert CONF_CLOUDHOOK_URL not in entry.data
+    # SwitchBot was given the local URL to push to in the meantime
+    mock_setup_webhook.assert_called_once()
+    assert mock_setup_webhook.call_args[0][0].startswith(
+        "https://example.com/api/webhook/"
+    )
+
+
 async def test_setup_reuses_persisted_cloudhook(
     hass: HomeAssistant,
     mock_list_devices,