diff --git a/crates/ide/src/inlay_hints.rs b/crates/ide/src/inlay_hints.rs
index 2fc3629252..505217cdc1 100644
--- a/crates/ide/src/inlay_hints.rs
+++ b/crates/ide/src/inlay_hints.rs
@@ -307,6 +307,25 @@ impl InlayHintsConfig {
             Lazy::Computed(edit)
         }
     }
+
+    fn lazy_tooltip(&self, finish: impl FnOnce() -> InlayTooltip) -> Lazy<InlayTooltip> {
+        if self.fields_to_resolve.resolve_hint_tooltip
+            && self.fields_to_resolve.resolve_label_tooltip
+        {
+            Lazy::Lazy
+        } else {
+            let tooltip = finish();
+            never!(
+                match &tooltip {
+                    InlayTooltip::String(s) => s,
+                    InlayTooltip::Markdown(s) => s,
+                }
+                .is_empty(),
+                "inlay hint produced an empty tooltip"
+            );
+            Lazy::Computed(tooltip)
+        }
+    }
 }
 
 #[derive(Copy, Clone, Debug, PartialEq, Eq)]
@@ -486,7 +505,7 @@ pub struct InlayHintLabel {
 impl InlayHintLabel {
     pub fn simple(
         s: impl Into<String>,
-        tooltip: Option<InlayTooltip>,
+        tooltip: Option<Lazy<InlayTooltip>>,
         linked_location: Option<FileRange>,
     ) -> InlayHintLabel {
         InlayHintLabel {
@@ -564,7 +583,6 @@ impl fmt::Debug for InlayHintLabel {
     }
 }
 
-#[derive(Hash)]
 pub struct InlayHintLabelPart {
     pub text: String,
     /// Source location represented by this label part. The client will use this to fetch the part's
@@ -575,13 +593,21 @@ pub struct InlayHintLabelPart {
     pub linked_location: Option<FileRange>,
     /// The tooltip to show when hovering over the inlay hint, this may invoke other actions like
     /// hover requests to show.
-    pub tooltip: Option<InlayTooltip>,
+    pub tooltip: Option<Lazy<InlayTooltip>>,
+}
+
+impl std::hash::Hash for InlayHintLabelPart {
+    fn hash<H: std::hash::Hasher>(&self, state: &mut H) {
+        self.text.hash(state);
+        self.linked_location.hash(state);
+        self.tooltip.is_some().hash(state);
+    }
 }
 
 impl fmt::Debug for InlayHintLabelPart {
     fn fmt(&self, f: &mut fmt::Formatter<'_>) -> fmt::Result {
         match self {
-            Self { text, linked_location: None, tooltip: None } => text.fmt(f),
+            Self { text, linked_location: None, tooltip: None | Some(Lazy::Lazy) } => text.fmt(f),
             Self { text, linked_location, tooltip } => f
                 .debug_struct("InlayHintLabelPart")
                 .field("text", text)
@@ -589,7 +615,8 @@ impl fmt::Debug for InlayHintLabelPart {
                 .field(
                     "tooltip",
                     &tooltip.as_ref().map_or("", |it| match it {
-                        InlayTooltip::String(it) | InlayTooltip::Markdown(it) => it,
+                        Lazy::Computed(InlayTooltip::String(it) | InlayTooltip::Markdown(it)) => it,
+                        Lazy::Lazy => "",
                     }),
                 )
                 .finish(),
diff --git a/crates/ide/src/inlay_hints/adjustment.rs b/crates/ide/src/inlay_hints/adjustment.rs
index 013e008bf9..2acd4021cc 100644
--- a/crates/ide/src/inlay_hints/adjustment.rs
+++ b/crates/ide/src/inlay_hints/adjustment.rs
@@ -162,11 +162,13 @@ pub(super) fn hints(
         let label = InlayHintLabelPart {
             text: if postfix { format!(".{}", text.trim_end()) } else { text.to_owned() },
             linked_location: None,
-            tooltip: Some(InlayTooltip::Markdown(format!(
-                "`{}` → `{}` ({coercion} coercion)",
-                source.display(sema.db, file_id.edition()),
-                target.display(sema.db, file_id.edition()),
-            ))),
+            tooltip: Some(config.lazy_tooltip(|| {
+                InlayTooltip::Markdown(format!(
+                    "`{}` → `{}` ({coercion} coercion)",
+                    source.display(sema.db, file_id.edition()),
+                    target.display(sema.db, file_id.edition()),
+                ))
+            })),
         };
         if postfix { &mut post } else { &mut pre }.label.append_part(label);
     }
diff --git a/crates/ide/src/inlay_hints/discriminant.rs b/crates/ide/src/inlay_hints/discriminant.rs
index 5a147adabc..f1e1955d14 100644
--- a/crates/ide/src/inlay_hints/discriminant.rs
+++ b/crates/ide/src/inlay_hints/discriminant.rs
@@ -76,9 +76,11 @@ fn variant_hints(
             }
             Err(_) => format!("{eq_} ?"),
         },
-        Some(InlayTooltip::String(match &d {
-            Ok(_) => "enum variant discriminant".into(),
-            Err(e) => format!("{e:?}"),
+        Some(config.lazy_tooltip(|| {
+            InlayTooltip::String(match &d {
+                Ok(_) => "enum variant discriminant".into(),
+                Err(e) => format!("{e:?}"),
+            })
         })),
         None,
     );
diff --git a/crates/ide/src/inlay_hints/implicit_drop.rs b/crates/ide/src/inlay_hints/implicit_drop.rs
index dd4b3efeec..1358d3722f 100644
--- a/crates/ide/src/inlay_hints/implicit_drop.rs
+++ b/crates/ide/src/inlay_hints/implicit_drop.rs
@@ -108,7 +108,7 @@ pub(super) fn hints(
             }
             let mut label = InlayHintLabel::simple(
                 name,
-                Some(crate::InlayTooltip::String("moz".into())),
+                Some(config.lazy_tooltip(|| crate::InlayTooltip::String("moz".into()))),
                 binding_source,
             );
             label.prepend_str("drop(");
diff --git a/crates/rust-analyzer/src/lsp/to_proto.rs b/crates/rust-analyzer/src/lsp/to_proto.rs
index a3b54f532c..a5516e7f9d 100644
--- a/crates/rust-analyzer/src/lsp/to_proto.rs
+++ b/crates/rust-analyzer/src/lsp/to_proto.rs
@@ -641,7 +641,7 @@ fn inlay_hint_label(
                 *something_to_resolve |= tooltip.is_some();
                 None
             } else {
-                match tooltip {
+                match tooltip.and_then(|it| it.computed()) {
                     Some(ide::InlayTooltip::String(s)) => {
                         Some(lsp_types::InlayHintTooltip::String(s))
                     }
@@ -665,7 +665,7 @@ fn inlay_hint_label(
                         *something_to_resolve |= part.tooltip.is_some();
                         None
                     } else {
-                        match part.tooltip {
+                        match part.tooltip.and_then(|it| it.computed()) {
                             Some(ide::InlayTooltip::String(s)) => {
                                 Some(lsp_types::InlayHintLabelPartTooltip::String(s))
                             }