diff --git a/esphome/core/component.cpp b/esphome/core/component.cpp
index 6ccebd0771..b6a18c1d85 100644
--- a/esphome/core/component.cpp
+++ b/esphome/core/component.cpp
@@ -36,6 +36,9 @@ namespace {
 struct ComponentErrorMessage {
   const Component *component;
   const char *message;
+  // Track if message is flash pointer (needs LOG_STR_ARG) or RAM pointer
+  // Remove before 2026.12.0 when deprecated const char* API is removed
+  bool is_flash_ptr;
 };
 
 struct ComponentPriorityOverride {
@@ -49,6 +52,25 @@ std::unique_ptr<std::vector<ComponentErrorMessage>> component_error_messages;
 // Setup priority overrides - freed after setup completes
 // NOLINTNEXTLINE(cppcoreguidelines-avoid-non-const-global-variables)
 std::unique_ptr<std::vector<ComponentPriorityOverride>> setup_priority_overrides;
+
+// Helper to store error messages - reduces duplication between deprecated and new API
+// Remove before 2026.12.0 when deprecated const char* API is removed
+void store_component_error_message(const Component *component, const char *message, bool is_flash_ptr) {
+  // Lazy allocate the error messages vector if needed
+  if (!component_error_messages) {
+    component_error_messages = std::make_unique<std::vector<ComponentErrorMessage>>();
+  }
+  // Check if this component already has an error message
+  for (auto &entry : *component_error_messages) {
+    if (entry.component == component) {
+      entry.message = message;
+      entry.is_flash_ptr = is_flash_ptr;
+      return;
+    }
+  }
+  // Add new error message
+  component_error_messages->emplace_back(ComponentErrorMessage{component, message, is_flash_ptr});
+}
 }  // namespace
 
 namespace setup_priority {
@@ -143,16 +165,20 @@ void Component::call_dump_config() {
   if (this->is_failed()) {
     // Look up error message from global vector
     const char *error_msg = nullptr;
+    bool is_flash_ptr = false;
     if (component_error_messages) {
       for (const auto &entry : *component_error_messages) {
         if (entry.component == this) {
           error_msg = entry.message;
+          is_flash_ptr = entry.is_flash_ptr;
           break;
         }
       }
     }
+    // Log with appropriate format based on pointer type
     ESP_LOGE(TAG, "  %s is marked FAILED: %s", LOG_STR_ARG(this->get_component_log_str()),
-             error_msg ? error_msg : LOG_STR_LITERAL("unspecified"));
+             error_msg ? (is_flash_ptr ? LOG_STR_ARG((const LogString *) error_msg) : error_msg)
+                       : LOG_STR_LITERAL("unspecified"));
   }
 }
 
@@ -315,19 +341,7 @@ void Component::status_set_error(const char *message) {
   ESP_LOGE(TAG, "%s set Error flag: %s", LOG_STR_ARG(this->get_component_log_str()),
            message ? message : LOG_STR_LITERAL("unspecified"));
   if (message != nullptr) {
-    // Lazy allocate the error messages vector if needed
-    if (!component_error_messages) {
-      component_error_messages = std::make_unique<std::vector<ComponentErrorMessage>>();
-    }
-    // Check if this component already has an error message
-    for (auto &entry : *component_error_messages) {
-      if (entry.component == this) {
-        entry.message = message;
-        return;
-      }
-    }
-    // Add new error message
-    component_error_messages->emplace_back(ComponentErrorMessage{this, message});
+    store_component_error_message(this, message, false);
   }
 }
 void Component::status_set_error(const LogString *message) {
@@ -338,21 +352,8 @@ void Component::status_set_error(const LogString *message) {
   ESP_LOGE(TAG, "%s set Error flag: %s", LOG_STR_ARG(this->get_component_log_str()),
            message ? LOG_STR_ARG(message) : LOG_STR_LITERAL("unspecified"));
   if (message != nullptr) {
-    // Lazy allocate the error messages vector if needed
-    if (!component_error_messages) {
-      component_error_messages = std::make_unique<std::vector<ComponentErrorMessage>>();
-    }
     // Store the LogString pointer directly (safe because LogString is always in flash/static memory)
-    const char *msg_ptr = LOG_STR_ARG(message);
-    // Check if this component already has an error message
-    for (auto &entry : *component_error_messages) {
-      if (entry.component == this) {
-        entry.message = msg_ptr;
-        return;
-      }
-    }
-    // Add new error message
-    component_error_messages->emplace_back(ComponentErrorMessage{this, msg_ptr});
+    store_component_error_message(this, LOG_STR_ARG(message), true);
   }
 }
 void Component::status_clear_warning() {