diff --git a/release/install-relacs/README.md b/release/install-relacs/README.md
index d43288c..1afa69e 100644
--- a/release/install-relacs/README.md
+++ b/release/install-relacs/README.md
@@ -1,11 +1,13 @@
 # Install relacs CLI
 
 Downloads a [relacs](https://github.com/stackrox/relacs) release binary and
-makes it available in `PATH` for subsequent workflow steps.
+makes it available in a specified directory for subsequent workflow steps.
 
 The binary is verified against the SHA-256 checksums published with each
 release.
 
+The installed binary is cached by runner and version.
+
 ## Recommended permissions
 
 The action requires no special permissions.
@@ -18,6 +20,7 @@ permissions: {}
 
 | Name | Required | Default | Description |
 | --- | --- | --- | --- |
+| `relacs_install_path` | no | `$HOME/.local/bin/relacs` | Path where to install `relacs` binary. Supports expansion of `$HOME` and `${HOME}` in custom paths (other environment variables are not expanded). |
 | `token` | yes |  | GH token to use for authentication for the `relacs` repository. |
 | `version` | no | "" | Release version tag to install (e.g. `v0.4.2`). Omit to install the latest release. |
 
@@ -32,6 +35,7 @@ jobs:
     steps:
     - uses: stackrox/actions/release/install-relacs@v1
       with:
+        relacs_install_path: /home/runner/.local/bin/relacs
         token: ${{ secrets.RHACS_BOT_GITHUB_TOKEN }}
         version: v0.4.2
 
diff --git a/release/install-relacs/action.yml b/release/install-relacs/action.yml
index 95412f3..d5c6904 100644
--- a/release/install-relacs/action.yml
+++ b/release/install-relacs/action.yml
@@ -1,7 +1,11 @@
 name: Install relacs CLI
-description: Download relacs CLI from GitHub releases to ~/.local/bin
+description: Download relacs CLI from GitHub releases to a specified directory
 
 inputs:
+  relacs_install_path:
+    description: "Path where to install `relacs` binary. Defaults to `${HOME}/.local/bin/relacs`. Supports expansion of `$HOME` and `${HOME}` in custom paths (other environment variables are not expanded)."
+    required: false
+    default: ""
   token:
     description: "GitHub token to use for authentication"
     required: true
@@ -13,11 +17,58 @@ inputs:
 runs:
   using: composite
   steps:
-    - name: Download and install relacs
+    # Input defaults are literal strings; resolve $HOME in bash when unset.
+    # All other environment variables are intentionally not resolved due to security considerations.
+    - name: Resolve relacs install path
+      id: relacs-install-path
+      shell: bash
+      env:
+        RELACS_INSTALL_PATH: ${{ inputs.relacs_install_path }}
+      run: |
+        if [[ -z "${RELACS_INSTALL_PATH}" ]]; then
+          RELACS_INSTALL_PATH="${HOME}/.local/bin/relacs"
+        else
+          RELACS_INSTALL_PATH="$(printf '%s' "${RELACS_INSTALL_PATH}" | sed \
+            -e "s|\${HOME}/|$HOME/|g" \
+            -e "s|\${HOME}\$|$HOME|g" \
+            -e "s|\$HOME/|$HOME/|g" \
+            -e "s|\$HOME\$|$HOME|g")"
+        fi
+        echo "path=${RELACS_INSTALL_PATH}" | tee -a "${GITHUB_OUTPUT}"
+
+    # Detect desired or latest relacs version
+    - name: Get desired relacs version
+      id: relacs-version
       shell: bash
       env:
         GH_TOKEN: ${{ inputs.token }}
         VERSION: ${{ inputs.version }}
+      run: |
+        if [[ -n "${VERSION:-}" ]]; then
+          echo "Using version override: ${VERSION}"
+        else
+          VERSION="$(gh release view --repo stackrox/relacs --json tagName --jq .tagName)"
+          echo "Using actual latest version: ${VERSION}"
+        fi
+        echo "version=${VERSION}" | tee -a "${GITHUB_OUTPUT}"
+
+    # Restore relacs binary from cache to avoid re-downloading the same version
+    - name: Restore relacs binary from cache
+      id: get-relacs-from-cache
+      uses: actions/cache/restore@55cc8345863c7cc4c66a329aec7e433d2d1c52a9 # ratchet:actions/cache/restore@v6
+      with:
+        path: ${{ steps.relacs-install-path.outputs.path }}
+        key: relacs-${{ runner.os }}-${{ runner.arch }}-${{ steps.relacs-version.outputs.version }}
+
+    # Only install if cache missed
+    - name: Download and install relacs
+      id: install-relacs
+      if: steps.get-relacs-from-cache.outputs.cache-hit != 'true'
+      shell: bash
+      env:
+        RELACS_INSTALL_PATH: ${{ steps.relacs-install-path.outputs.path }}
+        GH_TOKEN: ${{ inputs.token }}
+        VERSION: ${{ steps.relacs-version.outputs.version }}
       run: |
         set -euo pipefail
 
@@ -31,3 +82,21 @@ runs:
 
         # Execute installer with version from environment
         bash "${INSTALLER}" "${VERSION}"
+
+    - name: Add relacs install path to PATH
+      shell: bash
+      env:
+        RELACS_INSTALL_PATH: ${{ steps.relacs-install-path.outputs.path }}
+      run: |
+        set -euo pipefail
+        relacs_path="$(dirname "${RELACS_INSTALL_PATH}")"
+        # Use printf to prevent command injection from the relacs_path variable
+        printf '%s\n' "${relacs_path}" | tee -a "${GITHUB_PATH}"
+
+    # Save cache only if install succeeded (prevents caching wrong version on install failure)
+    - name: Save relacs binary to cache
+      if: always() && steps.get-relacs-from-cache.outputs.cache-hit != 'true' && steps.install-relacs.outcome == 'success'
+      uses: actions/cache/save@55cc8345863c7cc4c66a329aec7e433d2d1c52a9 # ratchet:actions/cache/save@v6
+      with:
+        path: ${{ steps.relacs-install-path.outputs.path }}
+        key: relacs-${{ runner.os }}-${{ runner.arch }}-${{ steps.relacs-version.outputs.version }}