Milawa is situated in the heart of the Milawa Gourmet Region, which is an area noted for its wineries, farms, restaurants, local produce and craft. The region also extends west to the small town of Oxley, north to Tarrawingee and east to Markwood. Major attractions include the Brown Brothers Winery with its Epicurean Centre, the Milawa Cheese Company, Milawa Mustards and the Olive Shop.
The town centre of Milawa is situated at the intersection of the road to Myrtleford (Snow Road) and the road to Bobinawarrah. A selection of shops, cafes, and a bakery are located here, including the historic Milawa Hotel which was established in 1865.