diff --git a/wait/host_port.go b/wait/host_port.go
index a3e9137006..9360517a04 100644
--- a/wait/host_port.go
+++ b/wait/host_port.go
@@ -13,13 +13,21 @@ import (
 	"github.com/docker/go-connections/nat"
 )
 
+const (
+	exitEaccess     = 126 // container cmd can't be invoked (permission denied)
+	exitCmdNotFound = 127 // container cmd not found/does not exist or invalid bind-mount
+)
+
 // Implement interface
 var (
 	_ Strategy        = (*HostPortStrategy)(nil)
 	_ StrategyTimeout = (*HostPortStrategy)(nil)
 )
 
-var errShellNotExecutable = errors.New("/bin/sh command not executable")
+var (
+	errShellNotExecutable = errors.New("/bin/sh command not executable")
+	errShellNotFound      = errors.New("/bin/sh command not found")
+)
 
 type HostPortStrategy struct {
 	// Port is a string containing port number and protocol in the format "80/tcp"
@@ -151,12 +159,16 @@ func (hp *HostPortStrategy) WaitUntilReady(ctx context.Context, target StrategyT
 	}
 
 	if err = internalCheck(ctx, internalPort, target); err != nil {
-		if errors.Is(errShellNotExecutable, err) {
+		switch {
+		case errors.Is(err, errShellNotExecutable):
 			log.Println("Shell not executable in container, only external port validated")
 			return nil
+		case errors.Is(err, errShellNotFound):
+			log.Println("Shell not found in container")
+			return nil
+		default:
+			return fmt.Errorf("internal check: %w", err)
 		}
-
-		return fmt.Errorf("internal check: %w", err)
 	}
 
 	return nil
@@ -207,13 +219,18 @@ func internalCheck(ctx context.Context, internalPort nat.Port, target StrategyTa
 			return fmt.Errorf("%w, host port waiting failed", err)
 		}
 
-		if exitCode == 0 {
-			break
-		} else if exitCode == 126 {
+		// Docker has a issue which override exit code 127 to 126 due to:
+		// https://github.com/moby/moby/issues/45795
+		// Handle both to ensure compatibility with Docker and Podman for now.
+		switch exitCode {
+		case 0:
+			return nil
+		case exitEaccess:
 			return errShellNotExecutable
+		case exitCmdNotFound:
+			return errShellNotFound
 		}
 	}
-	return nil
 }
 
 func buildInternalCheckCommand(internalPort int) string {
diff --git a/wait/host_port_test.go b/wait/host_port_test.go
index bf349f05a7..18a15aed82 100644
--- a/wait/host_port_test.go
+++ b/wait/host_port_test.go
@@ -1,8 +1,10 @@
 package wait
 
 import (
+	"bytes"
 	"context"
 	"io"
+	"log"
 	"net"
 	"strconv"
 	"testing"
@@ -456,16 +458,12 @@ func TestHostPortStrategyFailsWhileInternalCheckingDueToUnexpectedContainerStatu
 
 func TestHostPortStrategySucceedsGivenShellIsNotInstalled(t *testing.T) {
 	listener, err := net.Listen("tcp", "localhost:0")
-	if err != nil {
-		t.Fatal(err)
-	}
+	require.NoError(t, err)
 	defer listener.Close()
 
 	rawPort := listener.Addr().(*net.TCPAddr).Port
 	port, err := nat.NewPort("tcp", strconv.Itoa(rawPort))
-	if err != nil {
-		t.Fatal(err)
-	}
+	require.NoError(t, err)
 
 	target := &MockStrategyTarget{
 		HostImpl: func(_ context.Context) (string, error) {
@@ -497,7 +495,67 @@ func TestHostPortStrategySucceedsGivenShellIsNotInstalled(t *testing.T) {
 		},
 		ExecImpl: func(_ context.Context, _ []string, _ ...exec.ProcessOption) (int, io.Reader, error) {
 			// This is the error that would be returned if the shell is not installed.
-			return 126, nil, nil
+			return exitEaccess, nil, nil
+		},
+	}
+
+	wg := NewHostPortStrategy("80").
+		WithStartupTimeout(5 * time.Second).
+		WithPollInterval(100 * time.Millisecond)
+
+	oldWriter := log.Default().Writer()
+	var buf bytes.Buffer
+	log.Default().SetOutput(&buf)
+	t.Cleanup(func() {
+		log.Default().SetOutput(oldWriter)
+	})
+
+	err = wg.WaitUntilReady(context.Background(), target)
+	require.NoError(t, err)
+
+	require.Contains(t, buf.String(), "Shell not executable in container, only external port validated")
+}
+
+func TestHostPortStrategySucceedsGivenShellIsNotFound(t *testing.T) {
+	listener, err := net.Listen("tcp", "localhost:0")
+	require.NoError(t, err)
+	defer listener.Close()
+
+	rawPort := listener.Addr().(*net.TCPAddr).Port
+	port, err := nat.NewPort("tcp", strconv.Itoa(rawPort))
+	require.NoError(t, err)
+
+	target := &MockStrategyTarget{
+		HostImpl: func(_ context.Context) (string, error) {
+			return "localhost", nil
+		},
+		InspectImpl: func(_ context.Context) (*types.ContainerJSON, error) {
+			return &types.ContainerJSON{
+				NetworkSettings: &types.NetworkSettings{
+					NetworkSettingsBase: types.NetworkSettingsBase{
+						Ports: nat.PortMap{
+							"80": []nat.PortBinding{
+								{
+									HostIP:   "0.0.0.0",
+									HostPort: port.Port(),
+								},
+							},
+						},
+					},
+				},
+			}, nil
+		},
+		MappedPortImpl: func(_ context.Context, _ nat.Port) (nat.Port, error) {
+			return port, nil
+		},
+		StateImpl: func(_ context.Context) (*types.ContainerState, error) {
+			return &types.ContainerState{
+				Running: true,
+			}, nil
+		},
+		ExecImpl: func(_ context.Context, _ []string, _ ...exec.ProcessOption) (int, io.Reader, error) {
+			// This is the error that would be returned if the shell is not found.
+			return exitCmdNotFound, nil, nil
 		},
 	}
 
@@ -505,6 +563,15 @@ func TestHostPortStrategySucceedsGivenShellIsNotInstalled(t *testing.T) {
 		WithStartupTimeout(5 * time.Second).
 		WithPollInterval(100 * time.Millisecond)
 
+	oldWriter := log.Default().Writer()
+	var buf bytes.Buffer
+	log.Default().SetOutput(&buf)
+	t.Cleanup(func() {
+		log.Default().SetOutput(oldWriter)
+	})
+
 	err = wg.WaitUntilReady(context.Background(), target)
 	require.NoError(t, err)
+
+	require.Contains(t, buf.String(), "Shell not found in container")
 }