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Preheat air fryer to 400ºF. Wash potatoes and rub olive oil on the skin.
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Pierce the skin of the potatoes 2-3 times with a fork. Place the potatoes in the basket of the air fryer. Bake 35-40 minutes, turning half way, until they are fork tender.
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Slice the potatoes in half lengthwise and remove the flesh with a spoon leaving a small edge of flesh around the inside.
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In a bowl mash together the sour cream, butter and milk. Season with salt, pepper and garlic powder.
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Add in the bacon and most of the shredded cheese.
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Spoon the mashed potato mixture into the skins of the baked potatoes. Top with the remaining shredded cheese.
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Place back into the air fryer and cook for an additional 5-10 minutes until the cheese is bubbly and melted.