Error: ANDROID_HOME is not set and "android" command not in your PATH. You must fulfill at least one of these conditions.

For Windows:

set ANDROID_HOME=C:\ installation location \android-sdk

set PATH=%PATH%;%ANDROID_HOME%\tools;%ANDROID_HOME%\platform-tools

Taken from this installation guide.

For Mac OS X:

export ANDROID_HOME=/<installation location>/android-sdk-macosx
export PATH=${PATH}:$ANDROID_HOME/tools:$ANDROID_HOME/platform-tools

I have MAC OS X Yosemite, Android Studio 1.0.1, JDK 1.8, and Cordova 4.1.2

When I tried to add the android project:

cordova platforms add android

I received the message: ANDROID_HOME is not set and "android" command not in your PATH

Based in cforcloud's answer... 'Error: the command "android" failed' using cordova and http://developer.android.com/sdk/installing/index.html?pkg=studio I used the following:

export ANDROID_HOME="/Users/<user_name>/Library/Android/sdk"
export ANDROID_TOOLS="/Users/<user_name>/Library/Android/sdk/tools/"
export ANDROID_PLATFORM_TOOLS="/Users/<user_name>/Library/Android/sdk/platform-tools/"
PATH=$PATH:$ANDROID_HOME:$ANDROID_TOOLS:$ANDROID_PLATFORM_TOOLS
echo $PATH

When I tried to create the android project, I received this message:

Creating android project...
/Users/lg/.cordova/lib/npm_cache/cordova-android/3.6.4/package/bin/node_modules/q/q.js:126
                    throw e;
                          ^
Error: Please install Android target "android-19".

I ran Android SDK Manager, and installed Android 4.4.2 (API 19) (everything but Glass Development Kit Preview). It worked for me.

===

This is the content of my .bash_profile file.

export PATH=$PATH:/usr/local/bin
export JAVA_HOME=`/usr/libexec/java_home -v 1.8`
launchctl setenv STUDIO_JDK /library/Java/JavaVirtualMachines/jdk1.8.0_25.jdk
export ANDROID_HOME="/Users/<UserName>/Library/Android/sdk"
export ANDROID_TOOLS="/Users/<UserName>/Library/Android/sdk/tools"
export ANDROID_PLATFORM_TOOLS="/Users/<UserName>/Library/Android/sdk/platform-tools"
PATH=$PATH:$ANDROID_HOME:$ANDROID_TOOLS:$ANDROID_PLATFORM_TOOLS

To edit .bash_profile using Terminal, I use nano. It is easy to understand.

cd
nano .bash_profile

I hope it helps.