Can we have “computed” properties in Lit web components?

Vue.js has a feature called Computed Properties. These are properties (values) that are recomputed whenever their reactive dependencies change. They are useful for simplifying code and for caching expensive computations, as in this example from their official documentation:

Why do we need caching? Imagine we have an expensive computed property list, which requires looping through a huge array and doing a lot of computations. Then we may have other computed properties that in turn depend on list. Without caching, we would be executing list‘s getter many more times than necessary! In cases where you do not want caching, use a method call instead.

Does Lit Web Components support something similar?