diff --git a/llvm/lib/Transforms/Instrumentation/HWAddressSanitizer.cpp b/llvm/lib/Transforms/Instrumentation/HWAddressSanitizer.cpp
--- a/llvm/lib/Transforms/Instrumentation/HWAddressSanitizer.cpp
+++ b/llvm/lib/Transforms/Instrumentation/HWAddressSanitizer.cpp
@@ -773,6 +773,9 @@
   if (Ptr->isSwiftError())
     return true;
 
+  auto *MaybeAlloca = findAllocaForValue(Ptr);
+  if (MaybeAlloca && (!InstrumentStack || !isInterestingAlloca(*MaybeAlloca)))
+    return true;
   return false;
 }
 
diff --git a/llvm/test/Instrumentation/HWAddressSanitizer/stack-safety-analysis.ll b/llvm/test/Instrumentation/HWAddressSanitizer/stack-safety-analysis.ll
--- a/llvm/test/Instrumentation/HWAddressSanitizer/stack-safety-analysis.ll
+++ b/llvm/test/Instrumentation/HWAddressSanitizer/stack-safety-analysis.ll
@@ -1,6 +1,7 @@
-; RUN: opt -hwasan -hwasan-use-stack-safety=1 -hwasan-generate-tags-with-calls -S < %s | FileCheck %s --check-prefixes=SAFETY
-; RUN: opt -hwasan -hwasan-use-stack-safety=0 -hwasan-generate-tags-with-calls -S < %s | FileCheck %s --check-prefixes=NOSAFETY
-; RUN: opt -hwasan -hwasan-generate-tags-with-calls -S < %s | FileCheck %s --check-prefixes=SAFETY
+; RUN: opt -hwasan -hwasan-instrument-with-calls -hwasan-use-stack-safety=1 -hwasan-generate-tags-with-calls -S < %s | FileCheck %s --check-prefixes=SAFETY
+; RUN: opt -hwasan -hwasan-instrument-with-calls -hwasan-use-stack-safety=0 -hwasan-generate-tags-with-calls -S < %s | FileCheck %s --check-prefixes=NOSAFETY
+; RUN: opt -hwasan -hwasan-instrument-with-calls -hwasan-generate-tags-with-calls -S < %s | FileCheck %s --check-prefixes=SAFETY
+; RUN: opt -hwasan -hwasan-instrument-with-calls -hwasan-instrument-stack=0 -hwasan-generate-tags-with-calls -S < %s | FileCheck %s --check-prefixes=NOSTACK
 
 target datalayout = "e-m:e-i8:8:32-i16:16:32-i64:64-i128:128-n32:64-S128"
 target triple = "aarch64-unknown-linux-gnu"
@@ -9,7 +10,11 @@
 define i32 @test_load(i32* %a) sanitize_hwaddress {
 entry:
   ; NOSAFETY: call {{.*}}__hwasan_generate_tag
+  ; NOSAFETY: call {{.*}}__hwasan_store
   ; SAFETY-NOT: call {{.*}}__hwasan_generate_tag
+  ; SAFETY-NOT: call {{.*}}__hwasan_store
+  ; NOSTACK-NOT: call {{.*}}__hwasan_generate_tag
+  ; NOSTACK-NOT: call {{.*}}__hwasan_store
   %buf.sroa.0 = alloca i8, align 4
   call void @llvm.lifetime.start.p0i8(i64 1, i8* nonnull %buf.sroa.0)
   store volatile i8 0, i8* %buf.sroa.0, align 4, !tbaa !8
@@ -21,7 +26,11 @@
 define i32 @test_use(i32* %a) sanitize_hwaddress {
 entry:
   ; NOSAFETY: call {{.*}}__hwasan_generate_tag
+  ; NOSAFETY: call {{.*}}__hwasan_store
   ; SAFETY: call {{.*}}__hwasan_generate_tag
+  ; SAFETY: call {{.*}}__hwasan_store
+  ; NOSTACK-NOT: call {{.*}}__hwasan_generate_tag
+  ; NOSTACK-NOT: call {{.*}}__hwasan_store
   %buf.sroa.0 = alloca i8, align 4
   call void @use(i8* nonnull %buf.sroa.0)
   call void @llvm.lifetime.start.p0i8(i64 1, i8* nonnull %buf.sroa.0)