diff --git a/packages/vue/src/vue-component-lib/overlays.ts b/packages/vue/src/vue-component-lib/overlays.ts
index 12c661c9cf..c058edb06e 100644
--- a/packages/vue/src/vue-component-lib/overlays.ts
+++ b/packages/vue/src/vue-component-lib/overlays.ts
@@ -1,4 +1,4 @@
-import { defineComponent, h, ref } from 'vue';
+import { defineComponent, h, ref, VNode } from 'vue';
 
 export interface OverlayProps {
   isOpen?: boolean;
@@ -21,28 +21,61 @@ export const defineOverlayContainer = <Props extends object>(name: string, compo
       isOpen && (await present(props))
     }
 
-    const onVnodeUpdated = async () => {
-      const isOpen = props.isOpen;
+    const onVnodeUpdated = async (node: VNode, prevNode: VNode) => {
+      const isOpen = node.props!.isOpen;
+      const prevIsOpen = prevNode.props!.isOpen;
+
+      /**
+       * Do not do anything if this prop
+       * did not change.
+       */
+      if (isOpen === prevIsOpen) return;
+
       if (isOpen) {
-        await overlay.value?.present() || present(props);
+        await present(props);
       } else {
-        await overlay.value?.dismiss();
-        overlay.value = undefined;
+        await dismiss();
       }
     }
 
     const onVnodeBeforeUnmount = async () => {
-      await overlay.value?.dismiss();
+      await dismiss();
+    }
+
+    const dismiss = async () => {
+      if (!overlay.value) return;
+
+      await overlay.value;
+
+      overlay.value = overlay.value.dismiss();
+
+      await overlay.value;
+
       overlay.value = undefined;
     }
 
     const present = async (props: Readonly<Props>) => {
+      /**
+       * Do not open another instance
+       * if one is already opened.
+       */
+      if (overlay.value) {
+        await overlay.value;
+      }
+
+      if (overlay.value?.present) {
+        await overlay.value.present();
+        return;
+      }
+
       const component = slots.default && slots.default()[0];
-      overlay.value = await controller.create({
+      overlay.value = controller.create({
         ...props,
         component
       });
 
+      overlay.value = await overlay.value;
+
       eventListeners.forEach(eventListener => {
         overlay.value.addEventListener(eventListener.componentEv, () => {
           emit(eventListener.frameworkEv);
@@ -59,7 +92,8 @@ export const defineOverlayContainer = <Props extends object>(name: string, compo
           style: { display: 'none' },
           onVnodeMounted,
           onVnodeUpdated,
-          onVnodeBeforeUnmount
+          onVnodeBeforeUnmount,
+          isOpen: props.isOpen
         }
       );
     }
diff --git a/packages/vue/test-app/src/views/Overlays.vue b/packages/vue/test-app/src/views/Overlays.vue
index b79df4df88..cdf5c0a445 100644
--- a/packages/vue/test-app/src/views/Overlays.vue
+++ b/packages/vue/test-app/src/views/Overlays.vue
@@ -62,7 +62,9 @@
 
       <br />
 
-      <ion-button expand="block" @click="present($event)" id="present-overlay">Present Overlay</ion-button>
+      <ion-button @click="present($event)" id="present-overlay">Present Overlay</ion-button>
+
+      <ion-button @click="changeLoadingProps()" id="change-loading-props">Quickly Change Loading Props</ion-button>
 
       <ion-action-sheet
         :is-open="isActionSheetOpen"
@@ -314,7 +316,18 @@ export default defineComponent({
       }
     }
 
+    const changeLoadingProps = () => {
+      setLoadingRef(true);
+      setTimeout(() => {
+        setLoadingRef(false);
+        setTimeout(() => {
+          setLoadingRef(true);
+        }, 10);
+      }, 10);
+    }
+
     return {
+      changeLoadingProps,
       overlayProps,
       present,
       componentType,
diff --git a/packages/vue/test-app/tests/e2e/specs/overlays.js b/packages/vue/test-app/tests/e2e/specs/overlays.js
index c0e7f0a058..e23186fd48 100644
--- a/packages/vue/test-app/tests/e2e/specs/overlays.js
+++ b/packages/vue/test-app/tests/e2e/specs/overlays.js
@@ -59,7 +59,7 @@ describe('Overlays', () => {
     cy.get('ion-toast').should('not.exist');
   });
 
-  it('it should pass props to modal via controller', () => {
+  it('should pass props to modal via controller', () => {
     cy.get('ion-radio#ion-modal').click();
     cy.get('ion-radio#controller').click();
 
@@ -69,7 +69,7 @@ describe('Overlays', () => {
     cy.get('ion-modal ion-content').should('have.text', 'Custom Title');
   });
 
-  it('it should pass props to modal via component', () => {
+  it('should pass props to modal via component', () => {
     cy.get('ion-radio#ion-modal').click();
     cy.get('ion-radio#component').click();
 
@@ -79,7 +79,7 @@ describe('Overlays', () => {
     cy.get('ion-modal ion-content').should('have.text', 'Custom Title');
   });
 
-  it('it should pass props to popover via controller', () => {
+  it('should pass props to popover via controller', () => {
     cy.get('ion-radio#ion-popover').click();
     cy.get('ion-radio#controller').click();
 
@@ -89,7 +89,7 @@ describe('Overlays', () => {
     cy.get('ion-popover ion-content').should('have.text', 'Custom Title');
   });
 
-  it('it should pass props to popover via component', () => {
+  it('should pass props to popover via component', () => {
     cy.get('ion-radio#ion-popover').click();
     cy.get('ion-radio#component').click();
 
@@ -98,4 +98,10 @@ describe('Overlays', () => {
 
     cy.get('ion-popover ion-content').should('have.text', 'Custom Title');
   });
+
+  it('should only open one instance at a time when props change quickly on component', () => {
+    cy.get('#change-loading-props').click();
+
+    cy.get('ion-loading').should('have.length', 1);
+  });
 })