diff --git a/cmake/HPX_SetupHwloc.cmake b/cmake/HPX_SetupHwloc.cmake
index cf970540b55..c8d354458d6 100644
--- a/cmake/HPX_SetupHwloc.cmake
+++ b/cmake/HPX_SetupHwloc.cmake
@@ -44,11 +44,19 @@ else()
     )
     if(NOT HWLoc_POPULATED)
       fetchcontent_populate(HWLoc)
-      execute_process(
-        COMMAND
+      if(NOT Hwloc_BUILD_INSTALLED)
+        execute_process(
+          COMMAND
           sh -c
           "cd ${FETCHCONTENT_BASE_DIR}/hwloc-src && ./configure --prefix=${FETCHCONTENT_BASE_DIR}/hwloc-installed && make -j && make install"
-      )
+        )
+        set(Hwloc_BUILD_INSTALLED
+          TRUE
+          CACHE INTERNAL ""
+        )
+      else()
+        message("HWLoc is installed at ${FETCHCONTENT_BASE_DIR}/hwloc-installed")
+      endif()
     endif()
     set(HWLOC_ROOT "${FETCHCONTENT_BASE_DIR}/hwloc-installed")
     set(Hwloc_INCLUDE_DIR