In a stand mixer bowl, add flour, sugar, and instant yeast and mix together quickly. Add eggs, milk, salt, and ube extract. Mix until uniform.
Cover and let the dough proof. The common rule of thumb is to let it double in size. Depending on your ambient temperature, this will take 30 – 60 minutes.
Heat your frying oil to 350° F. Feel free to shape your malasadas, but it's not necessary. (Punahou drops scoops of dough). I recommend making them smaller and flatter to cook thoroughly.
Fry the malasadas until brown and crispy on all sides. Cover with as much sugar as will cling to the malasada.