diff --git a/cmd/controller/main.go b/cmd/controller/main.go
index 501149c3b431..9a51e4537aef 100644
--- a/cmd/controller/main.go
+++ b/cmd/controller/main.go
@@ -44,6 +44,7 @@ func main() {
 
 	op.
 		WithControllers(ctx, corecontrollers.NewControllers(
+			op.Manager,
 			op.Clock,
 			op.GetClient(),
 			op.EventRecorder,
@@ -52,6 +53,7 @@ func main() {
 		WithWebhooks(ctx, corewebhooks.NewWebhooks()...).
 		WithControllers(ctx, controllers.NewControllers(
 			ctx,
+			op.Manager,
 			op.Session,
 			op.Clock,
 			op.GetClient(),
diff --git a/go.mod b/go.mod
index d5662bb2b9b0..4cda3bc733d9 100644
--- a/go.mod
+++ b/go.mod
@@ -31,7 +31,7 @@ require (
 	k8s.io/utils v0.0.0-20240102154912-e7106e64919e
 	knative.dev/pkg v0.0.0-20231010144348-ca8c009405dd
 	sigs.k8s.io/controller-runtime v0.18.4
-	sigs.k8s.io/karpenter v0.37.1-0.20240708235259-bcd33e924905
+	sigs.k8s.io/karpenter v0.37.1-0.20240710172318-86056e48b9ac
 	sigs.k8s.io/yaml v1.4.0
 )
 
diff --git a/go.sum b/go.sum
index 6a77ecf659d0..b53638d5c635 100644
--- a/go.sum
+++ b/go.sum
@@ -763,8 +763,8 @@ sigs.k8s.io/controller-runtime v0.18.4 h1:87+guW1zhvuPLh1PHybKdYFLU0YJp4FhJRmiHv
 sigs.k8s.io/controller-runtime v0.18.4/go.mod h1:TVoGrfdpbA9VRFaRnKgk9P5/atA0pMwq+f+msb9M8Sg=
 sigs.k8s.io/json v0.0.0-20221116044647-bc3834ca7abd h1:EDPBXCAspyGV4jQlpZSudPeMmr1bNJefnuqLsRAsHZo=
 sigs.k8s.io/json v0.0.0-20221116044647-bc3834ca7abd/go.mod h1:B8JuhiUyNFVKdsE8h686QcCxMaH6HrOAZj4vswFpcB0=
-sigs.k8s.io/karpenter v0.37.1-0.20240708235259-bcd33e924905 h1:4ulecMwrSJl9EunKwfDGBhY0i3vJOYmI1GWs/JzsrjQ=
-sigs.k8s.io/karpenter v0.37.1-0.20240708235259-bcd33e924905/go.mod h1:eqRbKU0hmncoJXhh+MI8sCLYTjKDvoVPzo+myhDjvUI=
+sigs.k8s.io/karpenter v0.37.1-0.20240710172318-86056e48b9ac h1:8nfNoKGJSAzTMKxweI4DcTADPyMY/oCW2x1qgx3gUVY=
+sigs.k8s.io/karpenter v0.37.1-0.20240710172318-86056e48b9ac/go.mod h1:jwEZ2Efxsc0yyNkrDEFN2RduAwlm/s7reIVNblZ8vyM=
 sigs.k8s.io/structured-merge-diff/v4 v4.4.1 h1:150L+0vs/8DA78h1u02ooW1/fFq/Lwr+sGiqlzvrtq4=
 sigs.k8s.io/structured-merge-diff/v4 v4.4.1/go.mod h1:N8hJocpFajUSSeSJ9bOZ77VzejKZaXsTtZo4/u7Io08=
 sigs.k8s.io/yaml v1.4.0 h1:Mk1wCc2gy/F0THH0TAp1QYyJNzRm2KCLy3o5ASXVI5E=
diff --git a/hack/docgen.sh b/hack/docgen.sh
index 0f44d6c5161d..e868e2607214 100755
--- a/hack/docgen.sh
+++ b/hack/docgen.sh
@@ -13,7 +13,7 @@ AWS_SDK_GO_PROMETHEUS_DIR=$(go list -m -f '{{ .Dir }}' github.com/jonathan-innis
 OPERATORPKG_DIR=$(go list -m -f '{{ .Dir }}' github.com/awslabs/operatorpkg)
 
 compatibilitymatrix
-go run hack/docs/metrics_gen/main.go pkg/ "${KARPENTER_CORE_DIR}/pkg" "${CONTROLLER_RUNTIME_DIR}/pkg" "${AWS_SDK_GO_PROMETHEUS_DIR}" "${OPERATORPKG_DIR}/metrics" website/content/en/preview/reference/metrics.md
+go run hack/docs/metrics_gen/main.go pkg/ "${KARPENTER_CORE_DIR}/pkg" "${CONTROLLER_RUNTIME_DIR}/pkg" "${AWS_SDK_GO_PROMETHEUS_DIR}" "${OPERATORPKG_DIR}" website/content/en/preview/reference/metrics.md
 go run hack/docs/instancetypes_gen/main.go website/content/en/preview/reference/instance-types.md
 go run hack/docs/configuration_gen/main.go website/content/en/preview/reference/settings.md
 cd charts/karpenter && helm-docs
diff --git a/hack/docs/metrics_gen/main.go b/hack/docs/metrics_gen/main.go
index 00c779bcc0b7..b2fac43c1bcb 100644
--- a/hack/docs/metrics_gen/main.go
+++ b/hack/docs/metrics_gen/main.go
@@ -176,15 +176,16 @@ func bySubsystem(metrics []metricInfo) func(i int, j int) bool {
 	// Higher ordering comes first. If a value isn't designated here then the subsystem will be given a default of 0.
 	// Metrics without a subsystem come first since there is no designation for the bucket they fall under
 	subSystemSortOrder := map[string]int{
-		"":                100,
-		"nodepool":        10,
-		"nodeclaims":      9,
-		"nodes":           8,
-		"pods":            7,
-		"workqueue":       -1,
-		"client_go":       -1,
-		"aws_sdk_go":      -1,
-		"leader_election": -2,
+		"":                 100,
+		"nodepool":         10,
+		"nodeclaims":       9,
+		"nodes":            8,
+		"pods":             7,
+		"status_condition": -1,
+		"workqueue":        -1,
+		"client_go":        -1,
+		"aws_sdk_go":       -1,
+		"leader_election":  -2,
 	}
 
 	return func(i, j int) bool {
@@ -314,6 +315,8 @@ func getIdentMapping(identName string) (string, error) {
 		"metrics.Namespace": metrics.Namespace,
 		"Namespace":         metrics.Namespace,
 
+		"MetricNamespace":            "operator",
+		"MetricSubsystem":            "status_condition",
 		"WorkQueueSubsystem":         "workqueue",
 		"DepthKey":                   "depth",
 		"AddsKey":                    "adds_total",
diff --git a/pkg/controllers/controllers.go b/pkg/controllers/controllers.go
index b270658e95ef..dbeaf727a282 100644
--- a/pkg/controllers/controllers.go
+++ b/pkg/controllers/controllers.go
@@ -18,8 +18,11 @@ import (
 	"context"
 
 	"github.com/awslabs/operatorpkg/controller"
+	"github.com/awslabs/operatorpkg/status"
+	"sigs.k8s.io/controller-runtime/pkg/manager"
 	"sigs.k8s.io/karpenter/pkg/cloudprovider"
 
+	"github.com/aws/karpenter-provider-aws/pkg/apis/v1beta1"
 	nodeclasshash "github.com/aws/karpenter-provider-aws/pkg/controllers/nodeclass/hash"
 	nodeclassstatus "github.com/aws/karpenter-provider-aws/pkg/controllers/nodeclass/status"
 	nodeclasstermination "github.com/aws/karpenter-provider-aws/pkg/controllers/nodeclass/termination"
@@ -50,7 +53,7 @@ import (
 	"github.com/aws/karpenter-provider-aws/pkg/providers/subnet"
 )
 
-func NewControllers(ctx context.Context, sess *session.Session, clk clock.Clock, kubeClient client.Client, recorder events.Recorder,
+func NewControllers(ctx context.Context, mgr manager.Manager, sess *session.Session, clk clock.Clock, kubeClient client.Client, recorder events.Recorder,
 	unavailableOfferings *cache.UnavailableOfferings, cloudProvider cloudprovider.CloudProvider, subnetProvider subnet.Provider,
 	securityGroupProvider securitygroup.Provider, instanceProfileProvider instanceprofile.Provider, instanceProvider instance.Provider,
 	pricingProvider pricing.Provider, amiProvider amifamily.Provider, launchTemplateProvider launchtemplate.Provider, instanceTypeProvider instancetype.Provider) []controller.Controller {
@@ -63,6 +66,7 @@ func NewControllers(ctx context.Context, sess *session.Session, clk clock.Clock,
 		nodeclaimtagging.NewController(kubeClient, instanceProvider),
 		controllerspricing.NewController(pricingProvider),
 		controllersinstancetype.NewController(instanceTypeProvider),
+		status.NewController[*v1beta1.EC2NodeClass](kubeClient, mgr.GetEventRecorderFor("karpenter")),
 	}
 	if options.FromContext(ctx).InterruptionQueue != "" {
 		sqsapi := servicesqs.New(sess)
diff --git a/website/content/en/preview/reference/metrics.md b/website/content/en/preview/reference/metrics.md
index e8da1a2d33c0..9cc551405eba 100644
--- a/website/content/en/preview/reference/metrics.md
+++ b/website/content/en/preview/reference/metrics.md
@@ -232,6 +232,14 @@ Current depth of workqueue
 ### `workqueue_adds_total`
 Total number of adds handled by workqueue
 
+## Status Condition Metrics
+
+### `operator_status_condition_transition_seconds`
+The amount of time a condition was in a given state before transitioning. e.g. Alarm := P99(Updated=False) > 5 minutes
+
+### `operator_status_condition_count`
+The number of an condition for a given object, type and status. e.g. Alarm := Available=False > 0
+
 ## Client Go Metrics
 
 ### `client_go_request_total`