After her reign as Miss Universe was over, Malaret became a popular public figure in Puerto Rico, becoming a tv show host and magazine editor.
Among her tv jobs as a show host, she worked on the A Millon show for a little while during the middle 1980s , and as a magazine editor, she heads the production of Caras magazine in San Juan.
Malaret's face has graced the covers of the many Puerto Rican entertainment and gossip magazines, such as Vea, Teve Guia, Estrella and it's smaller version Estrellitas, and Artistas.
She is a native of the city of Utuado.
She also keeps active hosting the tv portion of the Miss Puerto Rico contest each year.
In 2003, Malaret announced she might run for some political position at the 2004 Puerto Rican elections.