diff --git a/tools/build/premake b/tools/build/premake
index 2b20c732f..e2bbba972 100644
--- a/tools/build/premake
+++ b/tools/build/premake
@@ -15,7 +15,7 @@ import subprocess
 import pathlib
 import sys
 import re
-from helpers import is_executable
+from helpers import is_executable, get_bin, has_bin
 
 
 self_path = os.path.dirname(os.path.abspath(__file__))
@@ -54,26 +54,32 @@ setup_premake_path_override()
 
 
 def main():
-  # First try the freshly-built premake.
-  premake5_bin = os.path.join(premake_path, 'bin', 'release', 'premake5')
-  if not is_executable(premake5_bin):
-    # No fresh build, so fallback to checked in copy (which we may not have).
-    premake5_bin = os.path.join(self_path, 'bin', 'premake5')
-  if not is_executable(premake5_bin):
-    # Still no valid binary, so build it.
+  premake_build_bin = os.path.join(premake_path, 'bin', 'release', 'premake5')
+  premake_local_bin = os.path.join(self_path, 'bin', 'premake5')
+  premake5_bin = None
+  # First check if premake is available at the system level
+  if has_bin('premake5'):
+    premake5_bin = get_bin('premake5')
+    print('using the installed version of premake')
+  # Next try the freshly-built premake.
+  elif is_executable(premake_build_bin):
+    premake5_bin = premake_build_bin
+    print('using local build of premake')
+  # No fresh build, so fallback to checked in copy (which we may not have).
+  elif is_executable(premake_local_bin):
+    premake5_bin = premake_local_bin
+    print('using the local prebuilt premake')
+  # Still no valid binary, so build it.
+  else:
     print('premake5 executable not found, attempting build...')
     build_premake()
-    premake5_bin = os.path.join(premake_path, 'bin', 'release', 'premake5')
-  if not is_executable(premake5_bin):
-    # Nope, boned.
-    print('ERROR: cannot build premake5 executable.')
-    sys.exit(1)
-
-  # Ensure the submodule has been checked out.
-  if not os.path.exists(os.path.join(premake_path, 'scripts', 'package.lua')):
-    print('third_party/premake-core was not present; run xb setup...')
-    sys.exit(1)
-    return
+    if is_executable(premake_build_bin):
+      premake5_bin = premake_build_bin
+      print('using local build of premake')
+    else:
+      # Nope, boned.
+      print('ERROR: cannot build premake5 executable.')
+      sys.exit(1)
 
   if sys.platform == 'win32':
     # Append the executable extension on windows.
@@ -91,6 +97,12 @@ def main():
 def build_premake():
   """Builds premake from source.
   """
+  # Ensure the submodule has been checked out.
+  if not os.path.exists(os.path.join(premake_path, 'scripts', 'package.lua')):
+    print('third_party/premake-core was not present; run xb setup...')
+    sys.exit(1)
+    return
+
   # Ensure that on Android, premake-core is in the internal storage.
   clone_premake_to_internal_storage()
   cwd = os.getcwd()