diff --git a/.changeset/fix-vitest-path-aliases.md b/.changeset/fix-vitest-path-aliases.md
new file mode 100644
index 0000000000..295b0031c2
--- /dev/null
+++ b/.changeset/fix-vitest-path-aliases.md
@@ -0,0 +1,5 @@
+---
+"@workflow/builders": patch
+---
+
+Resolve path aliases when externalizing non-step imports
diff --git a/packages/builders/src/swc-esbuild-plugin.test.ts b/packages/builders/src/swc-esbuild-plugin.test.ts
index 66435071d4..9725e3f113 100644
--- a/packages/builders/src/swc-esbuild-plugin.test.ts
+++ b/packages/builders/src/swc-esbuild-plugin.test.ts
@@ -85,6 +85,77 @@ describe('createSwcPlugin externalizeNonSteps', () => {
     expect(output).not.toContain(`/dep${inputExt}`);
   });
 
+  it('rewrites path-aliased imports to relative paths', async () => {
+    const outdir = join(testRoot, 'out');
+    const srcDir = join(testRoot, 'src');
+    const libDir = join(srcDir, 'lib');
+    const stepFile = join(srcDir, 'step.ts');
+
+    writeFile(join(libDir, 'config.ts'), 'export const config = {};');
+    writeFile(
+      stepFile,
+      `import { config } from '@/lib/config';\nconsole.log(config);`
+    );
+
+    const result = await esbuild.build({
+      entryPoints: [stepFile],
+      absWorkingDir: testRoot,
+      outdir,
+      bundle: true,
+      format: 'esm',
+      platform: 'node',
+      write: false,
+      alias: { '@': srcDir },
+      plugins: [
+        createSwcPlugin({
+          mode: 'step',
+          entriesToBundle: [stepFile],
+          outdir,
+          rewriteTsExtensions: true,
+        }),
+      ],
+    });
+
+    expect(result.errors).toHaveLength(0);
+    const output = result.outputFiles[0].text;
+    expect(output).toContain('/lib/config.js');
+    expect(output).not.toContain('@/lib/config');
+  });
+
+  it('does not externalize aliased imports that resolve into node_modules', async () => {
+    const outdir = join(testRoot, 'out');
+    const srcDir = join(testRoot, 'src');
+    const stepFile = join(srcDir, 'step.ts');
+    const nodeModulesDir = join(testRoot, 'node_modules', 'some-pkg');
+
+    writeFile(join(nodeModulesDir, 'index.js'), 'export const pkg = "hello";');
+    writeFile(stepFile, `import { pkg } from '@pkg';\nconsole.log(pkg);`);
+
+    const result = await esbuild.build({
+      entryPoints: [stepFile],
+      absWorkingDir: testRoot,
+      outdir,
+      bundle: true,
+      format: 'esm',
+      platform: 'node',
+      write: false,
+      alias: { '@pkg': join(nodeModulesDir, 'index.js') },
+      plugins: [
+        createSwcPlugin({
+          mode: 'step',
+          entriesToBundle: [stepFile],
+          outdir,
+        }),
+      ],
+    });
+
+    expect(result.errors).toHaveLength(0);
+    const output = result.outputFiles[0].text;
+    // Should be bundled (inlined), not externalized as a relative node_modules path
+    expect(output).toContain('hello');
+    expect(output).not.toMatch(/from\s+["'].*node_modules/);
+  });
+
   it.each([
     '.ts',
     '.tsx',
diff --git a/packages/builders/src/swc-esbuild-plugin.ts b/packages/builders/src/swc-esbuild-plugin.ts
index 49347b5057..cc493f8f08 100644
--- a/packages/builders/src/swc-esbuild-plugin.ts
+++ b/packages/builders/src/swc-esbuild-plugin.ts
@@ -106,6 +106,8 @@ export function createSwcPlugin(options: SwcPluginOptions): Plugin {
       );
 
       build.onResolve({ filter: /.*/ }, async (args) => {
+        if (args.pluginData?.skipSwcPlugin) return null;
+
         if (
           !options.entriesToBundle &&
           normalizedSideEffectEntries.size === 0
@@ -122,21 +124,44 @@ export function createSwcPlugin(options: SwcPluginOptions): Plugin {
         }
 
         try {
-          let resolvedPath: string | false | undefined = args.path;
+          const specifier = args.path;
+          const specifierIsPath =
+            specifier.startsWith('.') || specifier.startsWith('/');
+
+          let resolvedPath: string | false | undefined;
+          // Determines whether the external path should be relativized
+          // (project-local file) or kept as a bare specifier (npm package).
+          let shouldMakeRelative = specifierIsPath;
 
-          // handle local imports e.g. ./hello or ../another
-          if (args.path.startsWith('.')) {
-            resolvedPath = await enhancedResolve(args.resolveDir, args.path);
+          if (specifierIsPath) {
+            resolvedPath = await enhancedResolve(args.resolveDir, specifier);
           } else {
+            // Resolve from project root so nested deps aren't externalized
             resolvedPath = await enhancedResolve(
-              // `args.resolveDir` is not used here to ensure we only
-              // externalize packages that can be resolved in the
-              // project's working directory e.g. a nested dep can't
-              // be externalized as we won't be able to resolve it once
-              // it's parent has been bundled
               build.initialOptions.absWorkingDir || process.cwd(),
-              args.path
-            );
+              specifier
+            ).catch(() => undefined); // swallow so esbuild fallback below can try
+
+            // Fall back to esbuild for aliases/tsconfig paths,
+            // but only accept project-local results
+            if (!resolvedPath) {
+              const esbuildResult = await build.resolve(specifier, {
+                resolveDir: args.resolveDir,
+                kind: args.kind,
+                pluginData: { skipSwcPlugin: true },
+              });
+              const didResolve =
+                !!esbuildResult.path && !esbuildResult.errors.length;
+              const isProjectLocalFile =
+                didResolve &&
+                !esbuildResult.path
+                  .replace(/\\/g, '/')
+                  .includes('/node_modules/');
+              if (isProjectLocalFile) {
+                resolvedPath = esbuildResult.path;
+                shouldMakeRelative = true;
+              }
+            }
           }
 
           if (!resolvedPath) return null;
@@ -182,11 +207,8 @@ export function createSwcPlugin(options: SwcPluginOptions): Plugin {
                 : null;
             }
 
-            const isFilePath =
-              args.path.startsWith('.') || args.path.startsWith('/');
-
             let externalPath: string;
-            if (isFilePath) {
+            if (shouldMakeRelative) {
               externalPath = relative(
                 options.outdir || process.cwd(),
                 resolvedPath
@@ -201,7 +223,7 @@ export function createSwcPlugin(options: SwcPluginOptions): Plugin {
                   .replace(/\.cts$/, '.cjs');
               }
             } else {
-              externalPath = args.path;
+              externalPath = specifier;
             }
 
             return {