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