Hybrid manufacturing is a combination of additive (deposition) and subtractive (machining) manufacturing in a single machine tool. Such a system can be used for near net shape manufacturing and component repair using either similar or dissimilar materials. Integrated into a single system, transition between additive and subtractive manufacturing can occur immediately and be leveraged to generate large components by alternating between the processes. This investigation shows how the interleaved capabilities can reduce overall cycle time by up to 68 %, improve average relative elongation to failure by 71 %, and reduce the average relative porosity fraction by 83 % when compared to traditional additive manufactured components. Results from this investigation builds the foundation needed for hybrid manufacturing to be applicable towards the manufacture of large complex components such as nosecones and marine propulsors.