diff --git a/arch/arm64/include/asm/kvm_host.h b/arch/arm64/include/asm/kvm_host.h
index bcd774d74f34..c49cfda2740a 100644
--- a/arch/arm64/include/asm/kvm_host.h
+++ b/arch/arm64/include/asm/kvm_host.h
@@ -668,6 +668,8 @@ struct kvm_vcpu_arch {
 /* Software step state is Active-pending */
 #define DBG_SS_ACTIVE_PENDING	__vcpu_single_flag(sflags, BIT(5))
 
+/* PMUSERENR for the guest EL0 is on physical CPU */
+#define PMUSERENR_ON_CPU	__vcpu_single_flag(sflags, BIT(6))
 
 /* Pointer to the vcpu's SVE FFR for sve_{save,load}_state() */
 #define vcpu_sve_pffr(vcpu) (kern_hyp_va((vcpu)->arch.sve_state) +	\
@@ -1028,9 +1030,14 @@ void kvm_arch_vcpu_put_debug_state_flags(struct kvm_vcpu *vcpu);
 #ifdef CONFIG_KVM
 void kvm_set_pmu_events(u32 set, struct perf_event_attr *attr);
 void kvm_clr_pmu_events(u32 clr);
+bool kvm_set_pmuserenr(u64 val);
 #else
 static inline void kvm_set_pmu_events(u32 set, struct perf_event_attr *attr) {}
 static inline void kvm_clr_pmu_events(u32 clr) {}
+static inline bool kvm_set_pmuserenr(u64 val)
+{
+	return false;
+}
 #endif
 
 void kvm_vcpu_load_sysregs_vhe(struct kvm_vcpu *vcpu);
diff --git a/arch/arm64/kernel/perf_event.c b/arch/arm64/kernel/perf_event.c
index dde06c0f97f3..33bb5f548f8a 100644
--- a/arch/arm64/kernel/perf_event.c
+++ b/arch/arm64/kernel/perf_event.c
@@ -741,9 +741,25 @@ static inline u32 armv8pmu_getreset_flags(void)
 	return value;
 }
 
+static void update_pmuserenr(u64 val)
+{
+	lockdep_assert_irqs_disabled();
+
+	/*
+	 * The current PMUSERENR_EL0 value might be the value for the guest.
+	 * If that's the case, have KVM keep tracking of the register value
+	 * for the host EL0 so that KVM can restore it before returning to
+	 * the host EL0. Otherwise, update the register now.
+	 */
+	if (kvm_set_pmuserenr(val))
+		return;
+
+	write_sysreg(val, pmuserenr_el0);
+}
+
 static void armv8pmu_disable_user_access(void)
 {
-	write_sysreg(0, pmuserenr_el0);
+	update_pmuserenr(0);
 }
 
 static void armv8pmu_enable_user_access(struct arm_pmu *cpu_pmu)
@@ -759,8 +775,7 @@ static void armv8pmu_enable_user_access(struct arm_pmu *cpu_pmu)
 			armv8pmu_write_evcntr(i, 0);
 	}
 
-	write_sysreg(0, pmuserenr_el0);
-	write_sysreg(ARMV8_PMU_USERENR_ER | ARMV8_PMU_USERENR_CR, pmuserenr_el0);
+	update_pmuserenr(ARMV8_PMU_USERENR_ER | ARMV8_PMU_USERENR_CR);
 }
 
 static void armv8pmu_enable_event(struct perf_event *event)
diff --git a/arch/arm64/kvm/hyp/include/hyp/switch.h b/arch/arm64/kvm/hyp/include/hyp/switch.h
index 6718731729fd..7e73be12cfaf 100644
--- a/arch/arm64/kvm/hyp/include/hyp/switch.h
+++ b/arch/arm64/kvm/hyp/include/hyp/switch.h
@@ -82,12 +82,24 @@ static inline void __activate_traps_common(struct kvm_vcpu *vcpu)
 	 */
 	if (kvm_arm_support_pmu_v3()) {
 		struct kvm_cpu_context *hctxt;
+		unsigned long flags;
 
 		write_sysreg(0, pmselr_el0);
 
 		hctxt = &this_cpu_ptr(&kvm_host_data)->host_ctxt;
+
+		/*
+		 * Disable IRQs to prevent a race condition between the
+		 * following code and IPIs that attempts to update
+		 * PMUSERENR_EL0. See also kvm_set_pmuserenr().
+		 */
+		local_irq_save(flags);
+
 		ctxt_sys_reg(hctxt, PMUSERENR_EL0) = read_sysreg(pmuserenr_el0);
 		write_sysreg(ARMV8_PMU_USERENR_MASK, pmuserenr_el0);
+		vcpu_set_flag(vcpu, PMUSERENR_ON_CPU);
+
+		local_irq_restore(flags);
 	}
 
 	vcpu->arch.mdcr_el2_host = read_sysreg(mdcr_el2);
@@ -112,9 +124,21 @@ static inline void __deactivate_traps_common(struct kvm_vcpu *vcpu)
 	write_sysreg(0, hstr_el2);
 	if (kvm_arm_support_pmu_v3()) {
 		struct kvm_cpu_context *hctxt;
+		unsigned long flags;
 
 		hctxt = &this_cpu_ptr(&kvm_host_data)->host_ctxt;
+
+		/*
+		 * Disable IRQs to prevent a race condition between the
+		 * following code and IPIs that attempts to update
+		 * PMUSERENR_EL0. See also kvm_set_pmuserenr().
+		 */
+		local_irq_save(flags);
+
 		write_sysreg(ctxt_sys_reg(hctxt, PMUSERENR_EL0), pmuserenr_el0);
+		vcpu_clear_flag(vcpu, PMUSERENR_ON_CPU);
+
+		local_irq_restore(flags);
 	}
 
 	if (cpus_have_final_cap(ARM64_SME)) {
diff --git a/arch/arm64/kvm/hyp/nvhe/Makefile b/arch/arm64/kvm/hyp/nvhe/Makefile
index 530347cdebe3..2e31d37512c7 100644
--- a/arch/arm64/kvm/hyp/nvhe/Makefile
+++ b/arch/arm64/kvm/hyp/nvhe/Makefile
@@ -10,7 +10,7 @@ asflags-y := -D__KVM_NVHE_HYPERVISOR__ -D__DISABLE_EXPORTS
 # will explode instantly (Words of Marc Zyngier). So introduce a generic flag
 # __DISABLE_TRACE_MMIO__ to disable MMIO tracing for nVHE KVM.
 ccflags-y := -D__KVM_NVHE_HYPERVISOR__ -D__DISABLE_EXPORTS -D__DISABLE_TRACE_MMIO__
-ccflags-y += -fno-stack-protector	\
+ccflags-y += -fno-stack-protector -DNO_TRACE_IRQFLAGS -DNO_DEBUG_IRQFLAGS \
 	     -DDISABLE_BRANCH_PROFILING	\
 	     $(DISABLE_STACKLEAK_PLUGIN)
 
diff --git a/arch/arm64/kvm/pmu.c b/arch/arm64/kvm/pmu.c
index 7887133d15f0..d6a863853bfe 100644
--- a/arch/arm64/kvm/pmu.c
+++ b/arch/arm64/kvm/pmu.c
@@ -209,3 +209,28 @@ void kvm_vcpu_pmu_restore_host(struct kvm_vcpu *vcpu)
 	kvm_vcpu_pmu_enable_el0(events_host);
 	kvm_vcpu_pmu_disable_el0(events_guest);
 }
+
+/*
+ * With VHE, keep track of the PMUSERENR_EL0 value for the host EL0 on the pCPU
+ * where PMUSERENR_EL0 for the guest is loaded, since PMUSERENR_EL0 is switched
+ * to the value for the guest on vcpu_load().  The value for the host EL0
+ * will be restored on vcpu_put(), before returning to the EL0.
+ *
+ * Return true if KVM takes care of the register. Otherwise return false.
+ */
+bool kvm_set_pmuserenr(u64 val)
+{
+	struct kvm_cpu_context *hctxt;
+	struct kvm_vcpu *vcpu;
+
+	if (!kvm_arm_support_pmu_v3() || !has_vhe())
+		return false;
+
+	vcpu = kvm_get_running_vcpu();
+	if (!vcpu || !vcpu_get_flag(vcpu, PMUSERENR_ON_CPU))
+		return false;
+
+	hctxt = &this_cpu_ptr(&kvm_host_data)->host_ctxt;
+	ctxt_sys_reg(hctxt, PMUSERENR_EL0) = val;
+	return true;
+}
diff --git a/include/linux/irqflags.h b/include/linux/irqflags.h
index 5ec0fa71399e..bcf3b969d459 100644
--- a/include/linux/irqflags.h
+++ b/include/linux/irqflags.h
@@ -156,7 +156,7 @@ do {						\
 # define start_critical_timings() do { } while (0)
 #endif
 
-#ifdef CONFIG_DEBUG_IRQFLAGS
+#if defined CONFIG_DEBUG_IRQFLAGS && !defined(NO_DEBUG_IRQFLAGS)
 extern void warn_bogus_irq_restore(void);
 #define raw_check_bogus_irq_restore()			\
 	do {						\
@@ -198,9 +198,9 @@ extern void warn_bogus_irq_restore(void);
 
 /*
  * The local_irq_*() APIs are equal to the raw_local_irq*()
- * if !TRACE_IRQFLAGS.
+ * if !TRACE_IRQFLAGS or if NO_TRACE_IRQFLAGS is locally set.
  */
-#ifdef CONFIG_TRACE_IRQFLAGS
+#if defined CONFIG_TRACE_IRQFLAGS && !defined(NO_TRACE_IRQFLAGS)
 
 #define local_irq_enable()				\
 	do {						\
