He was named in the VFL Team of the Year in 1983 and he was also runner up in Geelong’s fairest and best award that season. When he decided, at this point, to return home to Perth to finish his career, Geelong. in a measure of their appreciation, granted him life membership despite his 143 games being 7 games short of the qualifying tally. Unfortunately no agreement could be reached with East Perth, or any other WAFL club and Malarkey returned to Geelong. He quickly forced his way back into the side but a shoulder reconstruction two years later brought an unfortunate end to a long and distinguished senior career. He had played 283 senior games but later had a final playing stint at the Geelong West club in the Victorian Football Association and he was the last ever coach of that club in 1988. Gary wore the Cats famous number 5 guernsey previously worn by another legendary Western Australian, Graham "Polly" Farmer, but after Gary's premature retirement during the 1984 pre-season the number 5 had been allocated to Gary Ablett. After a reshuffle of numbers Malarkey was allocated the number 6 guernsey previously worn by Rod Waddell, which he wore until his retirement in 1986. Gary Malarkey later returned to WA and is now a distinguished member of the staff at the school that gave him his start in football – Trinity College. His students may well gain inspiration from the knowledge that years of perseverance, hard work and dedication by their master have been rewarded with well deserved induction into the WA Football Hall of Fame. Along with Karrene Mclernon, he runs the Indigenous program at Trinity College.