It is undefined, but the trigger "on item get" does have the value, is this by design or I'm doing something wrong? The "exists" trigger does have the value too.
Why do you need this value in "On item set"? This event is triggered immediately after "Set item" action. So you should still have this value stored in a variable (or array/dictionary/etc.), you don't need to read it back from local storage.
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I wanted to make the UI reactive to updates to localStorage.
But I mean, if the other methods have the value, I think onItemSet should too.