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| T      | ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934     |   |
|--------|------------------------------------------------------------------------------------------|--------|
|   | For the fiscal year ended December 31, 2010                                              |   |
|   | or                                                                                       |   |
| £ | TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 |   |
|   | For the transition period from _______________ to ______________                         |   |

| Washington                               | 91-1141254                              |
|------------------------------------------|-----------------------------------------|
| (State of incorporation)                 | (I.R.S. Employer Identification Number) |
| 929 North Russell StreetPortland, Oregon | 97227-1733                              |
| (Address of principal executive offices) | (Zip Code)                              |

| Title of Each ClassCommon Stock, Par Value $0.005 Per Share | Name of Each Exchange on Which RegisteredThe NASDAQ Stock Market LLC |
|-------------------------------------------------------------|----------------------------------------------------------------------|

| Large Accelerated Filer £                                             | Accelerated Filer £    |
|----------------------------------------------------------------------------|-----------------------------|
| Non-accelerated Filer £ (Do not check if a smaller reporting company) | Smaller Reporting Company T |

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CRAFT

|          | PART IV                                    |   |
|---------------|--------------------------------------------|--------|
|          |                                       |   |
| ITEM 15. | Exhibits and Financial Statement Schedules | 1      |
| SIGNATURES    | 2                                          |

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Table of Contents

15. Exhibits 

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Table of Contents

SIGN

|   | Craft Brewers Alliance, Inc. |                                                                   |
|--------|------------------------------|------------------------------------------------------------------------|
|   |                         |                                                                   |   |
|   | By:                          | /s/ Joseph K. O’Brien                                            |   |
|   |                         |       Joseph K. O’Brien                 |   |
|   |                         |       Controller and Chief Accounting Officer |   |

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Table of Contents

| Exhibit |   |
|---------|--------|

| Number | Description |
|--------|-------------|

| 2.1 | Agreement and Plan of Merger between the Registrant and Kona Brewing Co., Inc. and related parties dated July 31, 2010 (incorporated by reference from Exhibit 2.1 to the Registrant’s Current Report on Form 8-K filed on August 3, 2010) |
|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 2.2+ | Equity Purchase Agreement by and among each of the members of Fulton Street Brewery, LLC, as Sellers, and A-B, as Purchaser, dated as of February 18, 2011 |
|------|------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 3.1 | Restated Articles of Incorporation of the Registrant, dated July 1, 2008 (incorporated by reference from Exhibit 3.1 to the Registrant’s Current Report on Form 8-K filed on July 2, 2008) |
|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 3.2+ | Amended and Restated Bylaws of the Registrant, dated December 1, 2010 |
|------|-----------------------------------------------------------------------|

| 10.1* | 1992 Stock Incentive Plan, approved October 20, 1992, as amended October 11, 1994 and May 25, 1995 (incorporated by reference from Exhibit 10.16 to the Registrant’s Registration Statement on Form S-1, No. 33-94166) |
|-------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 10.2* | Amendment dated as of February 27, 1996 to the 1992 Stock Incentive Plan, as amended (incorporated by reference from Exhibit 10.31 to the Registrant’s Form 10-Q for the quarter ended June 30, 1996 (File No. 0-26542) (“1996 Form 10-Q”)) |
|-------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 10.3* | Amendment dated as of July 25, 1996 to 1992 Stock Incentive Plan, as amended (incorporated by reference from Exhibit 10.33 to the 1996 Form 10-Q) |
|-------|---------------------------------------------------------------------------------------------------------------------------------------------------|

| 10.4* | Form of Incentive Stock Option Agreement for the 1992 Stock Incentive Plan, as amended (incorporated by reference from Exhibit 10.8 to the Registrant’s Form 10-K for the year ended December 31, 2004) |
|-------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 10.5* | 2002 Stock Option Plan (incorporated by reference from Exhibit A to the Registrant’s Proxy Statement for its 2002 Annual Meeting of Shareholders (File No. 0-26542) |
|-------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 10.6* | Form of Stock Option Agreement (Directors Grants) for the 2002 Stock Option Plan (incorporated by reference from Exhibit 10.10 to the Registrant’s Form 10-K for the year ended December 31, 2004) |
|-------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 10.7* | Form of Nonqualified Stock Option Agreement (Executive Officer Grants) for the 2002 Stock Option Plan (incorporated by reference from Exhibit 10.1 to the Registrant’s Form 10-Q for the quarter ended September 30, 2010) |
|-------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 10.8* | 2007 Stock Incentive Plan (incorporated by reference from Appendix B to the Registrant’s Proxy Statement for its 2007 Annual Meeting of Shareholders) |
|-------|-------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 10.9* | Form of Nonstatutory Stock Option Agreement (Executive Officer Grants) for the 2007 Stock Incentive Plan (incorporated by reference from Exhibit 10.3 to the Registrant’s Form 10-Q for the quarter ended June 30, 2010) |
|-------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 10.10* | 2010 Stock Incentive Plan (incorporated by reference from Appendix B to the Registrant’s Proxy Statement for its 2010 Annual Meeting of Shareholders) |
|--------|-------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 10.11*+ | Form of Nonqualified Stock Option Agreement (Executive Officer Grants) for the 2010 Stock Incentive Plan |
|---------|----------------------------------------------------------------------------------------------------------|

| 10.12* | Letter of Agreement between the Registrant and Terry E. Michaelson dated March 29, 2010 (incorporated by reference from Exhibit 10.14 to the Registrant’s Form 10-K for the year ended December 31, 2009) |
|--------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 10.13* | Letter of Agreement between the Registrant and Mark D. Moreland dated March 29, 2010 (incorporated by reference from Exhibit 10.15 to the Registrant’s Form 10-K for the year ended December 31, 2009) |
|--------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 10.14* | Letter of Agreement between the Registrant and V. Sebastian Pastore dated March 29, 2010 (incorporated by reference from Exhibit 10.16 to the Registrant’s Form 10-K for the year ended December 31, 2009) |
|--------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 10.15* | Letter of Agreement between the Registrant and Martin J. Wall, IV dated March 29, 2010 (incorporated by reference from Exhibit 10.17 to the Registrant’s Form 10-K for the year ended December 31, 2009) |
|--------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 10.16* | Letter of Agreement between the Registrant and Danielle Katcher dated March 29, 2010 (incorporated by reference from Exhibit 10.18 to the Registrant’s Form 10-K for the year ended December 31, 2009) |
|--------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 10.17* | Letter of Agreement between the Registrant and Kurt Widmer dated May 26, 2010 (incorporated by reference from Exhibit 10.1 to the Registrant’s Form 10-Q for the quarter ended June 30, 2010) |
|--------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 10.18* | Letter of Agreement between the Registrant and Robert Widmer dated May 26, 2010 (incorporated by reference from Exhibit 10.2 to the Registrant’s Form 10-Q for the quarter ended June 30, 2010) |
|--------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

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Table of Contents

| 10.19* | Non-Competition and Non-Solicitation Agreement dated June 30, 2008 between the Registrant and Kurt Widmer (incorporated by reference from Exhibit 10.10 to the Registrant’s Current Report on Form 8-K filed on July 2, 2008) |
|--------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 10.20* | Non-Competition and Non-Solicitation Agreement dated June 30, 2008 between the Registrant and Robert Widmer (incorporated by reference from Exhibit 10.11 to the Registrant’s Current Report on Form 8-K filed on July 2, 2008) |
|--------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 10.21* | Non-Competition and Non-Solicitation Agreement dated October 1, 2010 between the Registrant and W. Cameron Healy (incorporated by reference from Exhibit 10.2 to the Registrant’s Current Report on Form 8-K filed on October 6, 2010) |
|--------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 10.22* | Non-Competition and Non-Solicitation Agreement dated October 1, 2010 between the Registrant and Mattson Davis (incorporated by reference from Exhibit 10.3 to the Registrant’s Current Report on Form 8-K filed on October 6, 2010) |
|--------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 10.23* | Summary of Compensation Arrangements for Non-Employee Directors (incorporated by reference from Exhibit 10.23 to the Registrant’s Form 10-K for the year ended December 31, 2009) |
|--------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 10.24† | Services Agreement dated January 1, 2009 between the Registrant and Kona Brewery LLC (incorporated by reference from Exhibit 10.2 to the Registrant’s Form 10-Q for the quarter ended September 30, 2010) |
|--------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 10.25+ | Summary of Annual Cash Incentive Bonus Plan for Executive Officers |
|--------|--------------------------------------------------------------------|

| 10.26 | Sublease between Pease Development Authority as Sublessor and the Registrant as Sublessee, dated May 30, 1995 (incorporated by reference from Exhibit 10.11 to the Registrant’s Registration Statement on Form S-1, No. 33-94166) |
|-------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 10.27 | Loan Agreement dated as of July 1, 2008 between Registrant and Bank of America, N.A. (incorporated by reference from Exhibit 10.1 to the Registrant’s Current Report on Form 8-K filed on July 7, 2008) |
|-------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 10.28 | Loan Modification Agreement dated November 14, 2008 to Loan Agreement dated July 1, 2008 between Registrant and Bank of America, N.A. (incorporated by reference from Exhibit 10.1 to the Registrant’s Form 10-Q for the quarter ended September 30, 2008) |
|-------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 10.29 | Second Loan Modification Agreement dated June 8, 2010 to the Loan Agreement dated July 1, 2008 between the Registrant and Bank of America, N.A. (incorporated by reference from Exhibit 10.4 to the Registrant’s Form 10-Q for the quarter ended June 30, 2010) |
|-------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 10.30 | Third Loan Modification Agreement dated September 30, 2010 to the Loan Agreement dated July 1, 2008 between the Registrant and Bank of America, N.A. (Incorporated by reference from Exhibit 10.1 to the Registrant’s Current Report on Form 8-K filed on October 6, 2010) |
|-------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 10.31 | Exchange and Recapitalization Agreement dated as of June 30, 2004 between the Registrant and Anheuser-Busch, Incorporated (“A-B”) (incorporated by reference from Exhibit 10.1 to the Registrant’s Current Report on Form 8-K filed on July 2, 2004) |
|-------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 10.32 | Master Distributor Agreement dated as of July 1, 2004 (“Master Distributor Agreement”) between the Registrant and A-B (incorporated by reference from Exhibit 10.2 to the Registrant’s Current Report on Form 8-K filed on July 2, 2004) |
|-------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 10.33+ | Amendment dated July 25, 2008 to Master Distributor Agreement between the Registrant and A-B |
|--------|----------------------------------------------------------------------------------------------|

| 10.34 | Second Amendment dated August 6, 2010 to Master Distributor Agreement between the Registrant and A-B (incorporated by reference from Exhibit 10.5 to the Registrant’s Form 10-Q for the quarter ended June 30, 2010) |
|-------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 10.35 | Registration Rights Agreement dated as of July 1, 2004 between the Registrant and A-B (incorporated by reference from Exhibit 10.3 to the Registrant’s Current Report on Form 8-K filed on July 2, 2004) |
|-------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 10.36 | Consent and Amendment dated as of July 1, 2008 among the Registrant, Widmer Brothers Brewing Company, Craft Brands Alliance LLC, and A-B (incorporated by reference from Exhibit 10.1 to the Registrant’s Current Report on Form 8-K filed on July 2, 2008) |
|-------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 10.37 | Master Lease Agreement dated as of June 6, 2007 between Banc of America Leasing & Capital, LLC and Widmer Brothers Brewing Company (incorporated by reference to Exhibit 10.2 from Amendment No. 1 to the Registrant’s Registration Statement on Form S-4, No. 333-149908 filed on May 1, 2008 (“S-4 Amendment No. 1”)) |
|-------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 10.38 | Amended and Restated License Agreement dated as of February 28, 1997 between Widmer Brothers Brewing Company and Widmer’s Wine Cellars, Inc. and Canandaigua Wine Company, Inc. (incorporated by reference to Exhibit 10.3 from the S-4 Amendment No. 1) |
|-------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

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Table of Contents

| 10.39 | Restated Lease dated as of January 1, 1994 between Smithson & McKay Limited Liability Company and Widmer Brothers Brewing Company (incorporated by reference to Exhibit 10.3 to the Registrant’s Form 10-Q for the quarter ended September 30, 2010) |
|-------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 10.40 | Commercial Lease (Restated) dated as of December 18, 2007 between Widmer Brothers LLC and Widmer Brothers Brewing Company (incorporated by reference to Exhibit 10.5 from the S-4 Amendment No. 1) |
|-------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 10.41+ | Sublease dated as of September 1, 2010 between Manini Holdings, LLC and Kona Brewing Co., Inc. |
|--------|------------------------------------------------------------------------------------------------|

| 10.42† | Amended and Restated Continental Distribution and Licensing Agreement between the Registrant and Kona Brewery LLC dated March 26, 2009 (incorporated by reference from Exhibit 10.4 to the Registrant’s Form 10-Q for the quarter ended September 30, 2010) |
|--------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 10.43++ | Sublease dated as of March 31, 2011 between Manini Holdings, LLC and Kona Brewing Co., LLC |
|---------|--------------------------------------------------------------------------------------------|

| 10.44 | Term Sheet between A-B and the Registrant, dated March 27, 2011 (incorporated by reference from Exhibit 10.1 to the Registrant’s Current Report on Form 8-K filed on March 28, 2011) |
|-------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 21.1+ | Subsidiaries of the Registrant |
|-------|--------------------------------|

| 23.1+ | Consent of Moss Adams LLP, Independent Registered Public Accounting Firm |
|-------|--------------------------------------------------------------------------|

| 24.1+ | Power of Attorney – Directors of Craft Brewers Alliance, Inc. |
|-------|---------------------------------------------------------------------|

| 31.1+ | Certification of Chief Executive Officer of Craft Brewers Alliance, Inc. pursuant to Section 302 of the Sarbanes-Oxley Act of 2002 |
|-------|------------------------------------------------------------------------------------------------------------------------------------|

| 31.2+ | Certification of Chief Financial Officer of Craft Brewers Alliance, Inc. pursuant to Section 302 of the Sarbanes-Oxley Act of 2002 |
|-------|------------------------------------------------------------------------------------------------------------------------------------|

| 31.3++ | Certification of the Chief Executive Officer of Craft Brewers Alliance, Inc. pursuant to Section 302 of the Sarbanes-Oxley Act of 2002 |
|--------|----------------------------------------------------------------------------------------------------------------------------------------|

| 31.4++ | Certification of the Chief Financial Officer of Craft Brewers Alliance, Inc. pursuant to Section 302 of the Sarbanes-Oxley Act of 2002 |
|--------|----------------------------------------------------------------------------------------------------------------------------------------|

| 32.1+ | Certification of Form 10-K for the year ended December 31, 2010 pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 |
|-------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 99.1+ | Press Release dated March 31, 2011 |
|-------|------------------------------------|

| * | Denotes a management contract or a compensatory plan or arrangement. |
|---|----------------------------------------------------------------------|

| † | Confidential treatment has been requested with respect to portions of this exhibit. A complete copy of the agreement, including the redacted terms, has been separately filed with the Securities and Exchange Commission |
|---------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| + | Filed with the Annual Report on Form 10-K for the year ended December 31, 2010, filed April 1, 2010. |
|---|------------------------------------------------------------------------------------------------------|

| ++ | Filed herewith. |
|----|-----------------|

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