diff --git a/src/useStorage.ts b/src/useStorage.ts
index 4c330a3510..41748f0509 100644
--- a/src/useStorage.ts
+++ b/src/useStorage.ts
@@ -1,6 +1,21 @@
 /* eslint-disable */
-import { useState, useCallback, Dispatch, SetStateAction, useMemo } from 'react';
+import { useCallback, Dispatch, useMemo } from 'react';
+import { InitialHookState, HookState, resolveHookState,  } from './util/resolveHookState';
 import { isClient } from './util';
+import { createGlobalState, GlobalStateHookReturn } from './createGlobalState';
+
+type DispatchAction<T> = Dispatch<HookState<T | undefined>>;
+type localStateHook<T> = (initialState?: InitialHookState<T>) => GlobalStateHookReturn<T>;
+type storageKeyHooks = {
+  [storageType: string]: {
+    [key: string]: localStateHook<any>
+  }
+};
+let useStorageKeyHook: storageKeyHooks = {}
+// This is useful for testing
+export const resetStorageState = () => {
+  useStorageKeyHook = {}
+}
 
 export type parserOptions<T> =
   | {
@@ -19,7 +34,7 @@ const useStorage = <T>(
   key: string,
   initialValue?: T,
   options?: parserOptions<T>
-): [T | undefined, Dispatch<SetStateAction<T | undefined>>, () => void] => {
+): [T | undefined, DispatchAction<T>, () => void] => {
   if (!isClient) {
     return [initialValue as T, noop, noop];
   }
@@ -36,7 +51,7 @@ const useStorage = <T>(
 
   const deserializer = options ? (options.raw ? value => value : options.deserializer) : JSON.parse;
 
-  const [state, setState] = useState<T | undefined>(() => {
+  const setInitialState = () => {
     try {
       const serializer = options ? (options.raw ? String : options.serializer) : JSON.stringify;
 
@@ -47,19 +62,41 @@ const useStorage = <T>(
         initialValue && storage.setItem(key, serializer(initialValue));
         return initialValue;
       }
-    } catch {
+    } catch (error) {
       // If user is in private mode or has storage restriction
       // storage can throw. JSON.parse and JSON.stringify
       // can throw, too.
+      console.error(error)
       return initialValue;
     }
-  });
+  };
+
+  if (!useStorageKeyHook[storageType]) {
+    useStorageKeyHook[storageType] = {}
+  }
+  if (!useStorageKeyHook[storageType][key]) {
+    useStorageKeyHook[storageType][key] = createGlobalState<T | undefined>(undefined)
+  }
+  const useStorageState: localStateHook<T | undefined> = useStorageKeyHook[storageType][key]
+  const [ state, setState ] = useStorageState(setInitialState)
+
+  const removeKey = () => {
+    try {
+      storage.removeItem(key);
+      setState(undefined);
+    } catch(error) {
+      // If user is in private mode or has storage restriction
+      // storage can throw.
+      console.error(error);
+    }
+  }
 
-  const set: Dispatch<SetStateAction<T | undefined>> = useCallback(
+  const set: DispatchAction<T> = useCallback(
     valOrFunc => {
       try {
-        const newState = typeof valOrFunc === 'function' ? (valOrFunc as Function)(state) : valOrFunc;
-        if (typeof newState === 'undefined') return;
+        const newState = resolveHookState(valOrFunc, state)
+        // if (typeof newState === 'undefined') return;
+        if (typeof newState === 'undefined') return removeKey()
         let value: string;
 
         if (options)
@@ -72,23 +109,16 @@ const useStorage = <T>(
 
         storage.setItem(key, value);
         setState(deserializer(value));
-      } catch {
+      } catch (error) {
         // If user is in private mode or has storage restriction
         // storage can throw. Also JSON.stringify can throw.
+        console.error(error);
       }
     },
     [key, setState]
   );
 
-  const remove = useCallback(() => {
-    try {
-      storage.removeItem(key);
-      setState(undefined);
-    } catch {
-      // If user is in private mode or has storage restriction
-      // storage can throw.
-    }
-  }, [key, setState]);
+  const remove = useCallback(removeKey, [key, setState]);
 
   return [state, set, remove];
 };
diff --git a/stories/useLocalStorage.story.tsx b/stories/useLocalStorage.story.tsx
index f246c9607f..dd696b366d 100644
--- a/stories/useLocalStorage.story.tsx
+++ b/stories/useLocalStorage.story.tsx
@@ -3,21 +3,28 @@ import * as React from 'react';
 import { useLocalStorage } from '../src';
 import ShowDocs from './util/ShowDocs';
 
+const StorageKey = ({ storageKey }) => {
+  const [value, setValue, remove] = useLocalStorage(storageKey);
+  return (
+    <div>
+      <div>(Storage key: { storageKey }) Value: {value}</div>
+      <button onClick={() => setValue('bar')}>Set to: bar</button>
+      <button onClick={() => setValue('baz')}>Set to: baz</button>
+      <button onClick={() => remove()}>Clear</button>
+      <br />
+    </div>
+  );
+}
+
 const Demo = () => {
-  const [value, setValue] = useLocalStorage('hello-key', 'foo');
-  const [removableValue, setRemovableValue, remove] = useLocalStorage('removeable-key');
+  useLocalStorage('hello-key', 'initialValue');
+  useLocalStorage('no-initial-value');
 
   return (
     <div>
-      <div>Value: {value}</div>
-      <button onClick={() => setValue('bar')}>bar</button>
-      <button onClick={() => setValue('baz')}>baz</button>
-      <br />
-      <br />
-      <div>Removable Value: {removableValue}</div>
-      <button onClick={() => setRemovableValue('foo')}>foo</button>
-      <button onClick={() => setRemovableValue('bar')}>bar</button>
-      <button onClick={() => remove()}>Remove</button>
+      <StorageKey storageKey="hello-key" />
+      <StorageKey storageKey="hello-key" />
+      <StorageKey storageKey="no-initial-value-key" />
     </div>
   );
 };
diff --git a/stories/useSessionStorage.story.tsx b/stories/useSessionStorage.story.tsx
index 28fdf9a4cb..c1001b1bb5 100644
--- a/stories/useSessionStorage.story.tsx
+++ b/stories/useSessionStorage.story.tsx
@@ -3,15 +3,28 @@ import * as React from 'react';
 import { useSessionStorage } from '../src';
 import ShowDocs from './util/ShowDocs';
 
+const StorageKey = ({ storageKey }) => {
+  const [value, setValue, remove] = useSessionStorage(storageKey);
+  return (
+    <div>
+      <div>(Storage key: { storageKey }) Value: {value}</div>
+      <button onClick={() => setValue('bar')}>Set to: bar</button>
+      <button onClick={() => setValue('baz')}>Set to: baz</button>
+      <button onClick={() => remove()}>Clear</button>
+      <br />
+    </div>
+  );
+}
+
 const Demo = () => {
-  const [value, setValue, remove] = useSessionStorage('hello-key', 'foo');
+  useSessionStorage('hello-key', 'initialValue');
+  useSessionStorage('no-initial-value');
 
   return (
     <div>
-      <div>Value: {value}</div>
-      <button onClick={() => setValue('bar')}>bar</button>
-      <button onClick={() => setValue('baz')}>baz</button>
-      <button onClick={() => remove()}>Remove</button>
+      <StorageKey storageKey="hello-key" />
+      <StorageKey storageKey="hello-key" />
+      <StorageKey storageKey="no-initial-value-key" />
     </div>
   );
 };
diff --git a/tests/useLocalStorage.test.ts b/tests/useLocalStorage.test.ts
index da01dc8698..bd627dd3fa 100644
--- a/tests/useLocalStorage.test.ts
+++ b/tests/useLocalStorage.test.ts
@@ -1,5 +1,6 @@
 /* eslint-disable */
 import useLocalStorage from '../src/useLocalStorage';
+import { resetStorageState } from '../src/useStorage';
 import 'jest-localstorage-mock';
 import { renderHook, act } from '@testing-library/react-hooks';
 
@@ -7,6 +8,7 @@ describe(useLocalStorage, () => {
   afterEach(() => {
     localStorage.clear();
     jest.clearAllMocks();
+    resetStorageState();
   });
 
   it('retrieves an existing value from localStorage', () => {
@@ -234,4 +236,20 @@ describe(useLocalStorage, () => {
       expect(JSON.parse(value!).fizz).toEqual('bang');
     });
   });
+
+  it('both components should be updated', () => {
+    const { result: result1 } = renderHook(() => useLocalStorage('foo', 'bar'));
+    const { result: result2 } = renderHook(() => useLocalStorage('foo'));
+    let [ state1, setState1 ] = result1.current;
+    let [ state2 ] = result2.current;
+    expect(state1 === 'bar');
+    expect(state2 === 'bar');
+    act(() => {
+      setState1('baz');
+    });
+    [ state1, setState1 ] = result1.current;
+    [ state2 ] = result2.current;
+    expect(state1 === 'baz');
+    expect(state2 === 'baz');
+  });
 });
diff --git a/tests/useSessionStorage.test.ts b/tests/useSessionStorage.test.ts
index ff12423bb2..c2e40c979c 100644
--- a/tests/useSessionStorage.test.ts
+++ b/tests/useSessionStorage.test.ts
@@ -1,5 +1,6 @@
 /* eslint-disable */
 import useSessionStorage from '../src/useSessionStorage';
+import { resetStorageState } from '../src/useStorage';
 import 'jest-localstorage-mock';
 import { renderHook, act } from '@testing-library/react-hooks';
 
@@ -7,6 +8,7 @@ describe(useSessionStorage, () => {
   afterEach(() => {
     sessionStorage.clear();
     jest.clearAllMocks();
+    resetStorageState();
   });
 
   it('retrieves an existing value from sessionStorage', () => {
@@ -234,4 +236,20 @@ describe(useSessionStorage, () => {
       expect(JSON.parse(value!).fizz).toEqual('bang');
     });
   });
+
+  it('both components should be updated', () => {
+    const { result: result1 } = renderHook(() => useSessionStorage('foo', 'bar'));
+    const { result: result2 } = renderHook(() => useSessionStorage('foo'));
+    let [ state1, setState1 ] = result1.current;
+    let [ state2 ] = result2.current;
+    expect(state1 === 'bar');
+    expect(state2 === 'bar');
+    act(() => {
+      setState1('baz');
+    });
+    [ state1, setState1 ] = result1.current;
+    [ state2 ] = result2.current;
+    expect(state1 === 'baz');
+    expect(state2 === 'baz');
+  });
 });
diff --git a/tests/useStorage.test.ts b/tests/useStorage.test.ts
new file mode 100644
index 0000000000..1276fa119a
--- /dev/null
+++ b/tests/useStorage.test.ts
@@ -0,0 +1,36 @@
+/* eslint-disable */
+import useStorage, { resetStorageState } from '../src/useStorage';
+import 'jest-localstorage-mock';
+import { renderHook, act } from '@testing-library/react-hooks';
+
+describe(useStorage, () => {
+  afterEach(() => {
+    sessionStorage.clear();
+    localStorage.clear();
+    jest.clearAllMocks();
+    resetStorageState();
+  });
+
+  it('localStorage keys should not conflict with sessionStorage keys', () => {
+    const { result: result1 } = renderHook(() => useStorage('localStorage', 'foo', 'baz', { raw: true }));
+    const { result: result2 } = renderHook(() => useStorage('sessionStorage', 'foo', 'bar', { raw: true }));
+    let [ state1, setState1 ] = result1.current;
+    let [ state2, setState2 ] = result2.current;
+    expect(state1 === 'baz');
+    expect(state2 === 'bar');
+    act(() => {
+      setState1('baz-new');
+    });
+    [ state1, setState1 ] = result1.current;
+    [ state2, setState2 ] = result2.current;
+    expect(state1 === 'baz-new');
+    expect(state2 === 'bar');
+    act(() => {
+      setState2('bar-new');
+    });
+    [ state1, setState1 ] = result1.current;
+    [ state2, setState2 ] = result2.current;
+    expect(state1 === 'baz-new');
+    expect(state2 === 'bar-new');
+  });
+});