The Vaisakha Maholsavam festival is held every year during the months of May - June. The twenty eight day festival commences with the Neyyattam ritual on the Swati Day in Edavam and concludes with the Thrikkalashaattu.

The Vaisakha Maholsavam celebrations begin with the ritual of bringing a sword from Muthirerikavu from Wayanad. On the following day, on Visakham star Bhandaram Ezhunnallath ritual is held. Gold, Silver vessels, heavenly ornaments etc are brought from nearby Manathana village to Kottiyoor.

An important ritual during the festival is the 'Elaneer Vayppu' or submitting tender coconuts before the swayambhu Shiva linga. On this special day, thousands of tender coconuts carried from different parts of Malabar by the devotees are submitted. The following day, the main priest of the temple, pours the collected coconut water on to the idol which is known as 'Elaneeraattam'.