Canberra Olympic bowed out of the National Premier Leagues finals with a 5-1 thrashing at the hands of the Wollongong Wolves at Albert Butler Park on Saturday.

Cachia will hand over the reins at Olympic after six years at the helm of the club's Premier League outfit, having also had a two-year stint at the Monaro Panthers.

The Olympic coach guided his side to a third Capital Football league title in four years and oversaw their stunning run to the FFA Cup semi-finals in 2016.

Couple that with two championships, two Federation Cup triumphs, and two Charity Shields, and Cachia has amassed one of the finest records a coach at this level could hope for.

But now the time is right for a break.

"I'm not looking to go anywhere else. To be completely honest, we probably had the same conversation last year," Cachia said.

"When we lost so many players last year, I just thought if I leave now the group would be in trouble. We lost 15 players last year. Our first job was to avoid relegation and then make the top four, and we ended up winning the league."

It was one of many highs - but the pinnacle?

"Making the semi-final of the FFA Cup, because I can't see that happening anytime soon for a team from Canberra," Cachia said.

The loss to Wollongong marks Olympic's third first round exit in as many attempts at the NPL finals.

Lachlan Scott broke the deadlock for the hosts in the 36^th minute before Michael Thomas converted a penalty minutes out from the break to give the Wolves a two-goal buffer they would soon build on.

Wollongong will meet the victor of Heidelberg United's clash with Perth SC, which takes place in Melbourne on Sunday, in the semi-finals next weekend.