The APK file does not exist on disk

If you are facing this issue after the update to Android Studio V 3.1 then try the below.

I was facing this same problem when I updated to Android Studio 3.1. All other solutions I found here were quite manual because you have to clean and rebuild every time, that is not good at all. But thanks to Iman Marashi's answer here I was able to solve it.

Go to Run -> Edit Configurations...

Make sure you have a "Gradle-aware Make" on the Before launch section:

To add it click the + sign and select Gradle-aware Make and a popup will appear, just leave the text field empty and click OK and OK.

In my case, executing "Sync Project with Gradle Files" helped. Neither restarting Andoid Studio nor clearing the cache did anything.

Click this option to solve the error: