diff --git a/homeassistant/components/elmax/common.py b/homeassistant/components/elmax/common.py
index f1ffe87fde9..5334da23125 100644
--- a/homeassistant/components/elmax/common.py
+++ b/homeassistant/components/elmax/common.py
@@ -11,6 +11,7 @@ from elmax_api.exceptions import (
     ElmaxBadLoginError,
     ElmaxBadPinError,
     ElmaxNetworkError,
+    ElmaxPanelBusyError,
 )
 from elmax_api.http import Elmax
 from elmax_api.model.actuator import Actuator
@@ -124,6 +125,10 @@ class ElmaxCoordinator(DataUpdateCoordinator[PanelStatus]):
             raise ConfigEntryAuthFailed("Refused username/password") from err
         except ElmaxApiError as err:
             raise UpdateFailed(f"Error communicating with ELMAX API: {err}") from err
+        except ElmaxPanelBusyError as err:
+            raise UpdateFailed(
+                "Communication with the panel failed, as it is currently busy"
+            ) from err
         except ElmaxNetworkError as err:
             raise UpdateFailed(
                 "A network error occurred while communicating with Elmax cloud."
diff --git a/homeassistant/components/elmax/manifest.json b/homeassistant/components/elmax/manifest.json
index 6c772776346..e6e8d76be91 100644
--- a/homeassistant/components/elmax/manifest.json
+++ b/homeassistant/components/elmax/manifest.json
@@ -6,5 +6,5 @@
   "documentation": "https://www.home-assistant.io/integrations/elmax",
   "iot_class": "cloud_polling",
   "loggers": ["elmax_api"],
-  "requirements": ["elmax_api==0.0.2"]
+  "requirements": ["elmax_api==0.0.4"]
 }
diff --git a/requirements_all.txt b/requirements_all.txt
index 89f2214ee08..4c110a17359 100644
--- a/requirements_all.txt
+++ b/requirements_all.txt
@@ -647,7 +647,7 @@ eliqonline==1.2.2
 elkm1-lib==2.2.1
 
 # homeassistant.components.elmax
-elmax_api==0.0.2
+elmax_api==0.0.4
 
 # homeassistant.components.emulated_roku
 emulated_roku==0.2.1
diff --git a/requirements_test_all.txt b/requirements_test_all.txt
index ba8d2a1bc5a..a62514a4525 100644
--- a/requirements_test_all.txt
+++ b/requirements_test_all.txt
@@ -509,7 +509,7 @@ elgato==4.0.1
 elkm1-lib==2.2.1
 
 # homeassistant.components.elmax
-elmax_api==0.0.2
+elmax_api==0.0.4
 
 # homeassistant.components.emulated_roku
 emulated_roku==0.2.1