diff --git a/homeassistant/components/homekit/config_flow.py b/homeassistant/components/homekit/config_flow.py
index ac932b1c31b..03dffc23bed 100644
--- a/homeassistant/components/homekit/config_flow.py
+++ b/homeassistant/components/homekit/config_flow.py
@@ -456,13 +456,16 @@ class OptionsFlowHandler(config_entries.OptionsFlow):
             domains=self.hk_options[CONF_DOMAINS],
         )
         data_schema = {}
-        # Strip out entities that no longer exist to prevent error in the UI
-        valid_entities = [
-            entity_id for entity_id in entities if entity_id in all_supported_entities
-        ]
         if self.hk_options[CONF_HOMEKIT_MODE] == HOMEKIT_MODE_ACCESSORY:
             # In accessory mode we can only have one
-            default_value = valid_entities[0] if valid_entities else None
+            default_value = next(
+                iter(
+                    entity_id
+                    for entity_id in entities
+                    if entity_id in all_supported_entities
+                ),
+                None,
+            )
             entity_schema = vol.In
             entities_schema_required = vol.Required
         else:
@@ -476,12 +479,16 @@ class OptionsFlowHandler(config_entries.OptionsFlow):
                 vol.Required(CONF_INCLUDE_EXCLUDE_MODE, default=include_exclude_mode)
             ] = vol.In(INCLUDE_EXCLUDE_MODES)
             entity_schema = cv.multi_select
-            default_value = valid_entities
+            # Strip out entities that no longer exist to prevent error in the UI
+            default_value = [
+                entity_id
+                for entity_id in entities
+                if entity_id in all_supported_entities
+            ]
 
         data_schema[
             entities_schema_required(CONF_ENTITIES, default=default_value)
         ] = entity_schema(all_supported_entities)
-
         return self.async_show_form(
             step_id="include_exclude", data_schema=vol.Schema(data_schema)
         )
diff --git a/tests/components/homekit/test_config_flow.py b/tests/components/homekit/test_config_flow.py
index ffd223d1d2a..4180dfa8458 100644
--- a/tests/components/homekit/test_config_flow.py
+++ b/tests/components/homekit/test_config_flow.py
@@ -335,6 +335,8 @@ async def test_options_flow_exclude_mode_basic(hass, mock_get_source_ip):
     config_entry.add_to_hass(hass)
 
     hass.states.async_set("climate.old", "off")
+    hass.states.async_set("climate.front_gate", "off")
+
     await hass.async_block_till_done()
 
     result = await hass.config_entries.options.async_init(
@@ -351,6 +353,8 @@ async def test_options_flow_exclude_mode_basic(hass, mock_get_source_ip):
 
     assert result["type"] == data_entry_flow.RESULT_TYPE_FORM
     assert result["step_id"] == "include_exclude"
+    entities = result["data_schema"]({})["entities"]
+    assert entities == ["climate.front_gate"]
 
     # Inject garbage to ensure the options data
     # is being deep copied and we cannot mutate it in flight