diff --git a/api/v2alpha1/helmrelease_types.go b/api/v2alpha1/helmrelease_types.go
index 73210d0..9c7d8e5 100644
--- a/api/v2alpha1/helmrelease_types.go
+++ b/api/v2alpha1/helmrelease_types.go
@@ -563,18 +563,22 @@ func (in Uninstall) GetTimeout(defaultTimeout metav1.Duration) metav1.Duration {
 
 // HelmReleaseStatus defines the observed state of HelmRelease
 type HelmReleaseStatus struct {
-	// ObservedGeneration is the last reconciled generation.
+	// ObservedGeneration is the last observed generation.
 	// +optional
 	ObservedGeneration int64 `json:"observedGeneration,omitempty"`
 
-	// Conditions holds the conditions for the HelmRelease.
-	// +optional
-	Conditions []Condition `json:"conditions,omitempty"`
-
 	// ObservedStateReconciled represents whether the observed state has been successfully reconciled.
 	// +optional
 	ObservedStateReconciled bool `json:"observedStateReconciled,omitempty"`
 
+	// LastObservedTime is the last time at which the HelmRelease was observed.
+	// +optional
+	LastObservedTime metav1.Time `json:"lastObservedTime,omitempty"`
+
+	// Conditions holds the conditions for the HelmRelease.
+	// +optional
+	Conditions []Condition `json:"conditions,omitempty"`
+
 	// LastAppliedRevision is the revision of the last successfully applied source.
 	// +optional
 	LastAppliedRevision string `json:"lastAppliedRevision,omitempty"`
diff --git a/api/v2alpha1/zz_generated.deepcopy.go b/api/v2alpha1/zz_generated.deepcopy.go
index 93b9603..2dffa35 100644
--- a/api/v2alpha1/zz_generated.deepcopy.go
+++ b/api/v2alpha1/zz_generated.deepcopy.go
@@ -207,6 +207,7 @@ func (in *HelmReleaseSpec) DeepCopy() *HelmReleaseSpec {
 // DeepCopyInto is an autogenerated deepcopy function, copying the receiver, writing into out. in must be non-nil.
 func (in *HelmReleaseStatus) DeepCopyInto(out *HelmReleaseStatus) {
 	*out = *in
+	in.LastObservedTime.DeepCopyInto(&out.LastObservedTime)
 	if in.Conditions != nil {
 		in, out := &in.Conditions, &out.Conditions
 		*out = make([]Condition, len(*in))
diff --git a/config/crd/bases/helm.toolkit.fluxcd.io_helmreleases.yaml b/config/crd/bases/helm.toolkit.fluxcd.io_helmreleases.yaml
index 5c055cc..9f3e591 100644
--- a/config/crd/bases/helm.toolkit.fluxcd.io_helmreleases.yaml
+++ b/config/crd/bases/helm.toolkit.fluxcd.io_helmreleases.yaml
@@ -409,12 +409,17 @@ spec:
                 description: LastAttemptedValuesChecksum is the SHA1 checksum of the
                   values of the last reconciliation attempt.
                 type: string
+              lastObservedTime:
+                description: LastObservedTime is the last time at which the HelmRelease
+                  was observed.
+                format: date-time
+                type: string
               lastReleaseRevision:
                 description: LastReleaseRevision is the revision of the last successful
                   Helm release.
                 type: integer
               observedGeneration:
-                description: ObservedGeneration is the last reconciled generation.
+                description: ObservedGeneration is the last observed generation.
                 format: int64
                 type: integer
               observedStateReconciled:
diff --git a/controllers/helmrelease_controller.go b/controllers/helmrelease_controller.go
index 0d4b193..c67c370 100644
--- a/controllers/helmrelease_controller.go
+++ b/controllers/helmrelease_controller.go
@@ -125,6 +125,15 @@ func (r *HelmReleaseReconciler) Reconcile(req ctrl.Request) (ctrl.Result, error)
 		return ctrl.Result{}, nil
 	}
 
+	// Record time of reconciliation attempt.
+	hr.Status.LastObservedTime = v1.Now()
+
+	// Observe HelmRelease generation.
+	if hr.Status.ObservedGeneration != hr.Generation {
+		hr.Status.ObservedGeneration = hr.Generation
+		hr = v2.HelmReleaseProgressing(hr)
+	}
+
 	if hr.Spec.Suspend {
 		msg := "HelmRelease is suspended, skipping reconciliation"
 		hr = v2.HelmReleaseNotReady(hr, v2.SuspendedReason, msg)
@@ -136,12 +145,6 @@ func (r *HelmReleaseReconciler) Reconcile(req ctrl.Request) (ctrl.Result, error)
 		return ctrl.Result{}, nil
 	}
 
-	// Observe the HelmRelease generation.
-	if hr.Status.ObservedGeneration != hr.Generation {
-		hr.Status.ObservedGeneration = hr.Generation
-		hr = v2.HelmReleaseProgressing(hr)
-	}
-
 	if err := r.Status().Update(ctx, &hr); err != nil {
 		log.Error(err, "unable to update status")
 		return ctrl.Result{Requeue: true}, err
diff --git a/docs/api/helmrelease.md b/docs/api/helmrelease.md
index ffc62fa..cbdaf82 100644
--- a/docs/api/helmrelease.md
+++ b/docs/api/helmrelease.md
@@ -770,7 +770,33 @@ int64
 </td>
 <td>
 <em>(Optional)</em>
-<p>ObservedGeneration is the last reconciled generation.</p>
+<p>ObservedGeneration is the last observed generation.</p>
+</td>
+</tr>
+<tr>
+<td>
+<code>observedStateReconciled</code><br>
+<em>
+bool
+</em>
+</td>
+<td>
+<em>(Optional)</em>
+<p>ObservedStateReconciled represents whether the observed state has been successfully reconciled.</p>
+</td>
+</tr>
+<tr>
+<td>
+<code>lastObservedTime</code><br>
+<em>
+<a href="https://kubernetes.io/docs/reference/generated/kubernetes-api/v1.18/#time-v1-meta">
+Kubernetes meta/v1.Time
+</a>
+</em>
+</td>
+<td>
+<em>(Optional)</em>
+<p>LastObservedTime is the last time at which the HelmRelease was observed.</p>
 </td>
 </tr>
 <tr>
@@ -789,18 +815,6 @@ int64
 </tr>
 <tr>
 <td>
-<code>observedStateReconciled</code><br>
-<em>
-bool
-</em>
-</td>
-<td>
-<em>(Optional)</em>
-<p>ObservedStateReconciled represents whether the observed state has been successfully reconciled.</p>
-</td>
-</tr>
-<tr>
-<td>
 <code>lastAppliedRevision</code><br>
 <em>
 string
diff --git a/docs/spec/v2alpha1/helmreleases.md b/docs/spec/v2alpha1/helmreleases.md
index c80f663..24ada4d 100644
--- a/docs/spec/v2alpha1/helmreleases.md
+++ b/docs/spec/v2alpha1/helmreleases.md
@@ -674,6 +674,7 @@ status:
   observedStateReconciled: true
   lastAppliedRevision: 4.0.6
   lastAttemptedRevision: 4.0.6
+  lastObservedTime: "2020-07-13T13:18:42Z"
   lastReleaseRevision: 1
   observedGeneration: 2
 ```
@@ -704,6 +705,7 @@ status:
   failures: 1
   lastAppliedRevision: 4.0.6
   lastAttemptedRevision: 4.0.6
+  lastObservedTime: "2020-07-13T18:17:28Z"
   lastReleaseRevision: 1
   observedGeneration: 3
 ```