diff --git a/src/realtime/src/realtime/_async/channel.py b/src/realtime/src/realtime/_async/channel.py
index 805299cf..34d067f4 100644
--- a/src/realtime/src/realtime/_async/channel.py
+++ b/src/realtime/src/realtime/_async/channel.py
@@ -189,6 +189,24 @@ async def subscribe(
                 "Tried to subscribe multiple times. 'subscribe' can only be called a single time per channel instance"
             )
         else:
+            subscribe_result: asyncio.Future[None] = (
+                asyncio.get_running_loop().create_future()
+            )
+
+            def complete_subscription(
+                state: RealtimeSubscribeStates, error: Optional[Exception]
+            ) -> None:
+                if callback:
+                    try:
+                        callback(state, error)
+                    except Exception as exc:
+                        if not subscribe_result.done():
+                            subscribe_result.set_exception(exc)
+                        return
+
+                if not subscribe_result.done():
+                    subscribe_result.set_result(None)
+
             config: RealtimeChannelConfig = self.params["config"]
             broadcast = config.get("broadcast")
             presence = config.get("presence") or RealtimeChannelPresenceConfig(
@@ -245,7 +263,7 @@ def on_join_push_ok(payload: ReplyPostgresChanges):
                             new_postgres_bindings.append(postgres_callback)
                         else:
                             asyncio.create_task(self.unsubscribe())
-                            callback and callback(
+                            complete_subscription(
                                 RealtimeSubscribeStates.CHANNEL_ERROR,
                                 Exception(
                                     "mismatch between server and client bindings for postgres changes"
@@ -254,16 +272,16 @@ def on_join_push_ok(payload: ReplyPostgresChanges):
                             return
 
                 self.postgres_changes_callbacks = new_postgres_bindings
-                callback and callback(RealtimeSubscribeStates.SUBSCRIBED, None)
+                complete_subscription(RealtimeSubscribeStates.SUBSCRIBED, None)
 
             def on_join_push_error(payload: Dict[str, Any]):
-                callback and callback(
+                complete_subscription(
                     RealtimeSubscribeStates.CHANNEL_ERROR,
                     Exception(json.dumps(payload)),
                 )
 
             def on_join_push_timeout(*args):
-                callback and callback(RealtimeSubscribeStates.TIMED_OUT, None)
+                complete_subscription(RealtimeSubscribeStates.TIMED_OUT, None)
 
             self.join_push.receive(
                 RealtimeAcknowledgementStatus.Ok, on_join_push_ok
@@ -272,6 +290,7 @@ def on_join_push_timeout(*args):
             )
 
             await self._rejoin()
+            await subscribe_result
 
         return self
 
diff --git a/src/realtime/tests/test_channel.py b/src/realtime/tests/test_channel.py
new file mode 100644
index 00000000..df3d38f7
--- /dev/null
+++ b/src/realtime/tests/test_channel.py
@@ -0,0 +1,71 @@
+import asyncio
+from typing import Any, Optional, cast
+
+import pytest
+
+from realtime import AsyncRealtimeClient
+from realtime.message import ReplyPostgresChanges
+from realtime.types import RealtimeAcknowledgementStatus, RealtimeSubscribeStates
+
+
+@pytest.mark.asyncio
+async def test_subscribe_waits_for_ack_before_returning():
+    socket = AsyncRealtimeClient("ws://localhost:54321/realtime/v1", "test-key")
+    socket._ws_connection = cast(
+        Any, object()
+    )  # mark socket as connected without network traffic
+    channel = socket.channel("test-channel")
+
+    subscribed = asyncio.Event()
+
+    def on_subscribe(state: RealtimeSubscribeStates, error: Optional[Exception]):
+        if state == RealtimeSubscribeStates.SUBSCRIBED and error is None:
+            subscribed.set()
+
+    async def fake_rejoin():
+        async def delayed_ack():
+            await asyncio.sleep(0.05)
+            channel.join_push.trigger(
+                RealtimeAcknowledgementStatus.Ok,
+                ReplyPostgresChanges(postgres_changes=[]),
+            )
+
+        asyncio.create_task(delayed_ack())
+
+    channel._rejoin = fake_rejoin  # type: ignore[method-assign]
+
+    subscribe_task = asyncio.create_task(channel.subscribe(on_subscribe))
+
+    await asyncio.sleep(0.01)
+    assert not subscribe_task.done()
+
+    await asyncio.wait_for(subscribe_task, 1)
+    assert subscribed.is_set()
+
+
+@pytest.mark.asyncio
+async def test_subscribe_propagates_callback_errors():
+    socket = AsyncRealtimeClient("ws://localhost:54321/realtime/v1", "test-key")
+    socket._ws_connection = cast(
+        Any, object()
+    )  # mark socket as connected without network traffic
+    channel = socket.channel("test-channel")
+
+    async def fake_rejoin():
+        async def delayed_ack():
+            await asyncio.sleep(0.01)
+            channel.join_push.trigger(
+                RealtimeAcknowledgementStatus.Ok,
+                ReplyPostgresChanges(postgres_changes=[]),
+            )
+
+        asyncio.create_task(delayed_ack())
+
+    channel._rejoin = fake_rejoin  # type: ignore[method-assign]
+
+    def raising_callback(state: RealtimeSubscribeStates, error: Optional[Exception]):
+        if state == RealtimeSubscribeStates.SUBSCRIBED and error is None:
+            raise RuntimeError("subscribe callback failed")
+
+    with pytest.raises(RuntimeError, match="subscribe callback failed"):
+        await channel.subscribe(raising_callback)