diff --git a/src/components/create-safe/status/CreationStatus.tsx b/src/components/create-safe/status/CreationStatus.tsx
index b0f4cd1841..86734be037 100644
--- a/src/components/create-safe/status/CreationStatus.tsx
+++ b/src/components/create-safe/status/CreationStatus.tsx
@@ -12,13 +12,11 @@ import { useCallback } from 'react'
 import { useSafeCreation } from '@/components/create-safe/status/useSafeCreation'
 import type { StepRenderProps } from '@/components/tx/TxStepper/useTxStepper'
 import type { PendingSafeData } from '@/components/create-safe/types.d'
-import useLocalStorage from '@/services/local-storage/useLocalStorage'
 import StatusMessage from '@/components/create-safe/status/StatusMessage'
 import useWallet from '@/hooks/wallets/useWallet'
 import useIsWrongChain from '@/hooks/useIsWrongChain'
 import useStatus from '@/components/create-safe/status/useStatus'
-
-export const SAFE_PENDING_CREATION_STORAGE_KEY = 'pendingSafe'
+import usePendingCreation from '@/components/create-safe/usePendingCreation'
 
 type Props = {
   params: PendingSafeData
@@ -29,10 +27,7 @@ type Props = {
 
 export const CreationStatus = ({ params, setStep }: Props) => {
   const [status, setStatus] = useStatus()
-  const [pendingSafe, setPendingSafe] = useLocalStorage<PendingSafeData | undefined>(
-    SAFE_PENDING_CREATION_STORAGE_KEY,
-    params,
-  )
+  const [pendingSafe = params, setPendingSafe] = usePendingCreation()
   const wallet = useWallet()
   const isWrongChain = useIsWrongChain()
   const isConnected = wallet && !isWrongChain
diff --git a/src/components/create-safe/steps/ReviewStep.tsx b/src/components/create-safe/steps/ReviewStep.tsx
index 2cbe975381..e97d2046e2 100644
--- a/src/components/create-safe/steps/ReviewStep.tsx
+++ b/src/components/create-safe/steps/ReviewStep.tsx
@@ -13,9 +13,7 @@ import { getFallbackHandlerContractInstance } from '@/services/contracts/safeCon
 import { computeNewSafeAddress } from '@/components/create-safe/logic'
 import { useWeb3 } from '@/hooks/wallets/web3'
 import useWallet from '@/hooks/wallets/useWallet'
-import useLocalStorage from '@/services/local-storage/useLocalStorage'
-import type { PendingSafeData } from '@/components/create-safe/types'
-import { SAFE_PENDING_CREATION_STORAGE_KEY } from '@/components/create-safe/status/CreationStatus'
+import usePendingCreation from '../usePendingCreation'
 
 type Props = {
   params: SafeFormData
@@ -30,7 +28,7 @@ const ReviewStep = ({ params, onSubmit, setStep, onBack }: Props) => {
   const provider = useWeb3()
   const chain = useCurrentChain()
   const saltNonce = useMemo(() => Date.now(), [])
-  const [_, setPendingSafe] = useLocalStorage<PendingSafeData | undefined>(SAFE_PENDING_CREATION_STORAGE_KEY, undefined)
+  const [_, setPendingSafe] = usePendingCreation()
 
   const { maxFeePerGas, maxPriorityFeePerGas } = useGasPrice()
 
diff --git a/src/components/create-safe/usePendingCreation.ts b/src/components/create-safe/usePendingCreation.ts
new file mode 100644
index 0000000000..759d5e872c
--- /dev/null
+++ b/src/components/create-safe/usePendingCreation.ts
@@ -0,0 +1,10 @@
+import useLocalStorage from '@/services/local-storage/useLocalStorage'
+import type { PendingSafeData } from './types'
+
+const SAFE_PENDING_CREATION_STORAGE_KEY = 'pendingSafe'
+
+const usePendingCreation = () => {
+  return useLocalStorage<PendingSafeData | undefined>(SAFE_PENDING_CREATION_STORAGE_KEY)
+}
+
+export default usePendingCreation
diff --git a/src/components/create-safe/useSetCreationStep.ts b/src/components/create-safe/useSetCreationStep.ts
index f17b116bc4..f8ed889052 100644
--- a/src/components/create-safe/useSetCreationStep.ts
+++ b/src/components/create-safe/useSetCreationStep.ts
@@ -1,13 +1,11 @@
+import { useEffect } from 'react'
 import type { StepRenderProps } from '@/components/tx/TxStepper/useTxStepper'
 import useIsWrongChain from '@/hooks/useIsWrongChain'
 import useWallet from '@/hooks/wallets/useWallet'
-import { useEffect } from 'react'
-import useLocalStorage from '@/services/local-storage/useLocalStorage'
-import { SAFE_PENDING_CREATION_STORAGE_KEY } from '@/components/create-safe/status/CreationStatus'
-import type { PendingSafeData } from '@/components/create-safe/types.d'
+import usePendingCreation from './usePendingCreation'
 
 const useSetCreationStep = (setStep: StepRenderProps['setStep']) => {
-  const [pendingSafe] = useLocalStorage<PendingSafeData | undefined>(SAFE_PENDING_CREATION_STORAGE_KEY, undefined)
+  const [pendingSafe] = usePendingCreation()
   const wallet = useWallet()
   const isWrongChain = useIsWrongChain()
 
diff --git a/src/components/safe-apps/SafeAppsInfoModal/useSafeAppsInfoModal.ts b/src/components/safe-apps/SafeAppsInfoModal/useSafeAppsInfoModal.ts
index bec7e8a058..96604a5a88 100644
--- a/src/components/safe-apps/SafeAppsInfoModal/useSafeAppsInfoModal.ts
+++ b/src/components/safe-apps/SafeAppsInfoModal/useSafeAppsInfoModal.ts
@@ -31,7 +31,7 @@ const useSafeAppsInfoModal = ({
 } => {
   const didMount = useRef(false)
   const chainId = useChainId()
-  const [modalInfo, setModalInfo] = useLocalStorage<ModalInfoProps>(SAFE_APPS_INFO_MODAL, {})
+  const [modalInfo = {}, setModalInfo] = useLocalStorage<ModalInfoProps>(SAFE_APPS_INFO_MODAL)
 
   useEffect(() => {
     if (!didMount.current) {
diff --git a/src/components/sidebar/DebugToggle/index.tsx b/src/components/sidebar/DebugToggle/index.tsx
index 84ca722941..27a2a201ae 100644
--- a/src/components/sidebar/DebugToggle/index.tsx
+++ b/src/components/sidebar/DebugToggle/index.tsx
@@ -14,7 +14,7 @@ const DebugToggle = (): ReactElement => {
   const dispatch = useAppDispatch()
   const isDarkMode = useDarkMode()
 
-  const [isProdGateway, setIsProdGateway] = useLocalStorage<boolean>(LS_KEY, false)
+  const [isProdGateway = false, setIsProdGateway] = useLocalStorage<boolean>(LS_KEY)
 
   const onToggle = (event: ChangeEvent<HTMLInputElement>) => {
     setIsProdGateway(event.target.checked)
diff --git a/src/hooks/safe-apps/permissions/useBrowserPermissions.ts b/src/hooks/safe-apps/permissions/useBrowserPermissions.ts
index 69e7e20f32..cabbd30b20 100644
--- a/src/hooks/safe-apps/permissions/useBrowserPermissions.ts
+++ b/src/hooks/safe-apps/permissions/useBrowserPermissions.ts
@@ -22,7 +22,7 @@ type UseBrowserPermissionsReturnType = {
 }
 
 const useBrowserPermissions = (): UseBrowserPermissionsReturnType => {
-  const [permissions, setPermissions] = useLocalStorage<BrowserPermissions>(BROWSER_PERMISSIONS, {})
+  const [permissions = {}, setPermissions] = useLocalStorage<BrowserPermissions>(BROWSER_PERMISSIONS)
 
   const getPermissions = useCallback(
     (origin: string) => {
diff --git a/src/hooks/safe-apps/permissions/useSafePermissions.ts b/src/hooks/safe-apps/permissions/useSafePermissions.ts
index 394b727721..5c67325111 100644
--- a/src/hooks/safe-apps/permissions/useSafePermissions.ts
+++ b/src/hooks/safe-apps/permissions/useSafePermissions.ts
@@ -36,7 +36,7 @@ type UseSafePermissionsReturnType = {
 }
 
 const useSafePermissions = (): UseSafePermissionsReturnType => {
-  const [permissions, setPermissions] = useLocalStorage<SafePermissions>(SAFE_PERMISSIONS, {})
+  const [permissions = {}, setPermissions] = useLocalStorage<SafePermissions>(SAFE_PERMISSIONS)
 
   const [permissionsRequest, setPermissionsRequest] = useState<SafePermissionsRequest | undefined>()
 
diff --git a/src/hooks/useOwnedSafes.ts b/src/hooks/useOwnedSafes.ts
index e5bf3359d6..45eebefae1 100644
--- a/src/hooks/useOwnedSafes.ts
+++ b/src/hooks/useOwnedSafes.ts
@@ -18,7 +18,7 @@ type OwnedSafesCache = {
 const useOwnedSafes = (): OwnedSafesCache['walletAddress'] => {
   const chainId = useChainId()
   const { address: walletAddress } = useWallet() || {}
-  const [ownedSafesCache, setOwnedSafesCache] = useLocalStorage<OwnedSafesCache>(CACHE_KEY, {})
+  const [ownedSafesCache, setOwnedSafesCache] = useLocalStorage<OwnedSafesCache>(CACHE_KEY)
 
   const [ownedSafes, error] = useAsync<OwnedSafes>(() => {
     if (!chainId || !walletAddress) return
@@ -31,7 +31,7 @@ const useOwnedSafes = (): OwnedSafesCache['walletAddress'] => {
     setOwnedSafesCache((prev) => ({
       ...prev,
       [walletAddress]: {
-        ...(prev[walletAddress] || {}),
+        ...(prev?.[walletAddress] || {}),
         [chainId]: ownedSafes.safes,
       },
     }))
@@ -43,7 +43,7 @@ const useOwnedSafes = (): OwnedSafesCache['walletAddress'] => {
     }
   }, [error])
 
-  return ownedSafesCache[walletAddress || ''] ?? {}
+  return ownedSafesCache?.[walletAddress || ''] ?? {}
 }
 
 export default useOwnedSafes
diff --git a/src/services/local-storage/Storage.ts b/src/services/local-storage/Storage.ts
index 229fc3ddf1..3bbce8b64d 100644
--- a/src/services/local-storage/Storage.ts
+++ b/src/services/local-storage/Storage.ts
@@ -21,28 +21,33 @@ class Storage {
     return `${this.prefix}${key}`
   }
 
-  public getItem = <T>(key: string): T | undefined => {
+  public getItem = <T>(key: string): T | null => {
     const fullKey = this.getPrefixedKey(key)
     let saved: string | null = null
     try {
-      saved = this.storage?.getItem(fullKey) || null
+      saved = this.storage?.getItem(fullKey) ?? null
     } catch (err) {
       logError(Errors._700, `key ${key} – ${(err as Error).message}`)
     }
 
-    if (!saved || saved === 'undefined') return
+    if (saved == null) return null
 
     try {
       return JSON.parse(saved) as T
     } catch (err) {
       logError(Errors._700, `key ${key} – ${(err as Error).message}`)
     }
+    return null
   }
 
   public setItem = <T>(key: string, item: T): void => {
     const fullKey = this.getPrefixedKey(key)
     try {
-      this.storage?.setItem(fullKey, JSON.stringify(item))
+      if (item == null) {
+        this.storage?.removeItem(fullKey)
+      } else {
+        this.storage?.setItem(fullKey, JSON.stringify(item))
+      }
     } catch (err) {
       logError(Errors._701, `key ${key} – ${(err as Error).message}`)
     }
diff --git a/src/services/local-storage/__tests__/local.test.ts b/src/services/local-storage/__tests__/local.test.ts
index b02766ac5c..ea53cda797 100644
--- a/src/services/local-storage/__tests__/local.test.ts
+++ b/src/services/local-storage/__tests__/local.test.ts
@@ -18,8 +18,8 @@ describe('local storage', () => {
 
       expect(getItem('test')).toStrictEqual({ test: 'value' })
     })
-    it("returns undefined the key doesn't exist", () => {
-      expect(getItem('notAKey')).toBe(undefined)
+    it("returns null of the key doesn't exist", () => {
+      expect(getItem('notAKey')).toBe(null)
     })
   })
 
@@ -32,10 +32,10 @@ describe('local storage', () => {
   })
 
   describe('handling undefined', () => {
-    it('saves ands reads undefined', () => {
+    it('removes the key when passing undefined', () => {
       setItem('test_undefined', undefined)
-      expect(getItem('test_undefined')).toBe(undefined)
-      expect(window.localStorage.getItem('SAFE_v2__test_undefined')).toBe('undefined')
+      expect(getItem('test_undefined')).toBe(null)
+      expect(window.localStorage.getItem('SAFE_v2__test_undefined')).toBe(null)
     })
   })
 })
diff --git a/src/services/local-storage/__tests__/useLocalStorage.test.ts b/src/services/local-storage/__tests__/useLocalStorage.test.ts
new file mode 100644
index 0000000000..9639045783
--- /dev/null
+++ b/src/services/local-storage/__tests__/useLocalStorage.test.ts
@@ -0,0 +1,55 @@
+import { renderHook, act } from '@/tests/test-utils'
+import local from '../local'
+import useLocalStorage from '../useLocalStorage'
+
+describe('useLocalStorage', () => {
+  beforeEach(() => {
+    window.localStorage.clear()
+  })
+
+  it('should set the value', () => {
+    const { result } = renderHook(() => useLocalStorage('test-key'))
+    const [value, setValue] = result.current
+
+    expect(value).toBe(undefined)
+
+    act(() => {
+      setValue('test')
+    })
+
+    expect(result.current[0]).toBe('test')
+
+    act(() => {
+      setValue('test2')
+    })
+
+    expect(result.current[0]).toBe('test2')
+  })
+
+  it('should set the value using a callback', () => {
+    const { result } = renderHook(() => useLocalStorage<string>('test-key'))
+    const [value, setValue] = result.current
+
+    expect(value).toBe(undefined)
+
+    act(() => {
+      setValue('test2')
+    })
+
+    act(() => {
+      setValue((prevVal) => {
+        return prevVal === 'test2' ? 'test3' : 'wrong'
+      })
+    })
+
+    expect(result.current[0]).toBe('test3')
+  })
+
+  it('should read from LS on initial call', () => {
+    local.setItem('test-key', 'ls')
+
+    const { result } = renderHook(() => useLocalStorage('test-key'))
+
+    expect(result.current[0]).toBe('ls')
+  })
+})
diff --git a/src/services/local-storage/useLocalStorage.ts b/src/services/local-storage/useLocalStorage.ts
index 94f3f68300..9005ec1991 100644
--- a/src/services/local-storage/useLocalStorage.ts
+++ b/src/services/local-storage/useLocalStorage.ts
@@ -1,32 +1,66 @@
-import type { Dispatch, SetStateAction } from 'react'
-import { useState, useCallback, useEffect } from 'react'
+import { useCallback, useEffect, useState } from 'react'
 import local from './local'
 
-const useLocalStorage = <T>(key: string, initialState: T): [T, Dispatch<SetStateAction<T>>] => {
-  const [cache, setCache] = useState<T>(initialState)
+// The setter accepts T or a function that takes the old value and returns T
+// Mimics the behavior of useState
+type Undefinable<T> = T | undefined
 
-  useEffect(() => {
-    const initialValue = local.getItem<T>(key)
-    if (initialValue !== undefined) {
-      setCache(initialValue)
-    }
-  }, [setCache, key])
+type Setter<T> = (val: T | ((prevVal: Undefinable<T>) => Undefinable<T>)) => void
+
+const useLocalStorage = <T>(key: string): [Undefinable<T>, Setter<T>] => {
+  const [cache, setCache] = useState<Undefinable<T>>()
+
+  // This is the setter that will be returned
+  // It will update the local storage and cache
+  const setNewValue = useCallback<Setter<T>>(
+    (value) => {
+      setCache((oldValue) => {
+        const newValue = value instanceof Function ? value(oldValue) : value
 
-  const setNewValue = useCallback(
-    (value: T | ((prevState: T) => T)) => {
-      setCache((prevState) => {
-        const newState = value instanceof Function ? value(prevState) : value
+        if (newValue !== oldValue) {
+          local.setItem(key, newValue)
 
-        if (newState !== prevState) {
-          local.setItem(key, newState)
+          // Dispatch a fake storage event within the current browser tab
+          // The real storage event is dispatched only in other tabs
+          window.dispatchEvent(
+            new StorageEvent('storage', {
+              key: local.getPrefixedKey(key),
+            }),
+          )
         }
 
-        return newState
+        return newValue
       })
     },
-    [setCache, key],
+    [key],
   )
 
+  // Subscribe to changes in local storage and update the cache
+  // This will work across tabs
+  useEffect(() => {
+    const syncCache = () => {
+      const lsValue = local.getItem<T>(key)
+      if (lsValue !== null) {
+        setCache(lsValue)
+      }
+    }
+
+    const onStorageEvent = (event: StorageEvent) => {
+      if (event.key === local.getPrefixedKey(key)) {
+        syncCache()
+      }
+    }
+
+    // Set the initial value
+    syncCache()
+
+    window.addEventListener('storage', onStorageEvent)
+
+    return () => {
+      window.removeEventListener('storage', onStorageEvent)
+    }
+  }, [key])
+
   return [cache, setNewValue]
 }
 
diff --git a/src/services/ls-migration/index.ts b/src/services/ls-migration/index.ts
index 7db5a7c652..0e68c27954 100644
--- a/src/services/ls-migration/index.ts
+++ b/src/services/ls-migration/index.ts
@@ -12,7 +12,7 @@ import { MIGRATION_KEY } from './config'
 
 const useStorageMigration = (): void => {
   const dispatch = useAppDispatch()
-  const [isMigrationFinished, setIsMigrationFinished] = useLocalStorage<boolean | undefined>(MIGRATION_KEY, false)
+  const [isMigrationFinished = false, setIsMigrationFinished] = useLocalStorage<boolean>(MIGRATION_KEY)
 
   useEffect(() => {
     if (isMigrationFinished) return
diff --git a/yarn.lock b/yarn.lock
index 16bc0449d8..866de0ad80 100644
--- a/yarn.lock
+++ b/yarn.lock
@@ -2463,13 +2463,20 @@
   resolved "https://registry.yarnpkg.com/@gnosis.pm/safe-modules-deployments/-/safe-modules-deployments-1.0.0.tgz#b4cfcf7782c3fa1491b84405ac06cfa4f7eff365"
   integrity sha512-mZkGtfGmEym7l5w2K6d/mIaS8sDmy50uGWAfTj5Q/+Y1cU9fHYU6hzhb0QaeyNM7F7HM3jg5ZTJjartZJUqu3w==
 
-"@gnosis.pm/safe-react-gateway-sdk@^3.1.3", "@gnosis.pm/safe-react-gateway-sdk@^3.4.1":
+"@gnosis.pm/safe-react-gateway-sdk@^3.1.3":
   version "3.4.1"
   resolved "https://registry.yarnpkg.com/@gnosis.pm/safe-react-gateway-sdk/-/safe-react-gateway-sdk-3.4.1.tgz#6864abdb28ce0487d64929dee0205e03a49e864f"
   integrity sha512-b8i0BLEP9CC7S2N7hYDX3OXRYIb9asOMVW0QWh4jzsgT5xitUOPy4jrZL9kAmx8QgcMPYbD+Jjsq/R9ltzSmew==
   dependencies:
     cross-fetch "^3.1.5"
 
+"@gnosis.pm/safe-react-gateway-sdk@^3.4.3":
+  version "3.4.3"
+  resolved "https://registry.yarnpkg.com/@gnosis.pm/safe-react-gateway-sdk/-/safe-react-gateway-sdk-3.4.3.tgz#4551f75ee39a690f106804a5e19c9c59e2ba1ea1"
+  integrity sha512-KCyM+tl0Rw+Mv+N/yqNzCX3qm80WYhqPpJ3/vcV3jfxqvbBWsXN3z0TMOrx2oJb9621su8NiQmUaQAnLzv9SaQ==
+  dependencies:
+    cross-fetch "^3.1.5"
+
 "@hapi/hoek@^9.0.0":
   version "9.3.0"
   resolved "https://registry.yarnpkg.com/@hapi/hoek/-/hoek-9.3.0.tgz#8368869dcb735be2e7f5cb7647de78e167a251fb"