Mix all-purpose flour, sugar, olive oil, salt and 1 cup of warm water in a bowl until a rough dough is formed then kneed by hand until smooth (about 5 minutes) or put all the ingredients into a food processor with a dough blade on low for 2 ½ minutes
Turn dough out onto working area, smooth into a ball and put into a greased bowl and cover to hold in moisture
Allow to rise in a warm place for about 1 hour or until doubled in size (Can be put in your oven with just the oven light on and the door closed)
Punch down the dough and divide into eight equal balls
Mix the molasses and 1/2 gallon of water in a large pot and bring to a boil
Preheat your oven to 420º F
Using your thumbs and middle fingers, pinch a hole in the center of each dough ball, stretching and shaping into a doughnut shape
Place 2 - 4 bagels (depending on the size of your pot) into the boiling molasses water for 30 seconds then flip with the slotted spoon for an additional 30 seconds
After 1 minute total time in the boiling molasses water, remove with the slotted spoon and place them onto your greased baking sheet
Continue until all of the bagels have been boiled for 1 minute and placed onto the baking sheet
Wisk the egg with 2 tbsp. of water and brush it onto the top of all 8 bagels on the baking sheet
OPTIONAL: If you're planning on adding topping such as poppy seeds, everything bagel seasoning etc., this would be the time to add them by sprinkling them onto the egg wash
Place the baking sheet into the preheated oven and bake for 15 minutes or until golden brown
Remove from pan onto cooling rack. Allow to cool completely before storing.