Oktay Mahmuti was born in Skopje Macedonia on 6 March 1968. He was curious in his childhood but after the secondary school he was latched onto about basketball. He started working as a basketball coach when he was 20. Mahmuti also graduated from the faculty of pharmacy.
In October 1991, he came to Turkey and he has worked as an assistant coach with Ergin Ataman beside Aydın Ors in Efes Pilsen. After Aydın Ors resigned from Efes Pilsen in 1999, Oktay Mahmuti became the head coach for just two matches and then he continued as the assistant coach of Ergin Ataman.
In 2001, Ergin Ataman resigned from Efes Pilsen and Mahmuti took over as the head coach. That season, Efes Pilsen played in Final Four of FIBA SuproLeague and won the third place. He won TBL four times in a row (2002-2005). In 2004-05 and 2005-06 seasons, Efes Pilsen played in quarter-final of EuroLeague under Oktay Mahmuti.
After leaving Efes, Mahmuti agreed with Benetton Treviso. He reached semi-final with Benetton in Italian Cup in 2007-08 season. Same season, he moved his team advanced to last 32. The 2008-09 season was more successful than the 2007-08 season. That season Benetton played in quarter-final of Eurocup and Mahmuti was selected the coach of that season in Eurocup.
Oktay Mahmuti agreed with Galatasaray in 2010-11 season. That season, Galatasaray played playoff final in TBL and it defeated Fenerbahce Ulker in Presindetial Cup final. Galatasaray earned a place in EuroLeague in 2011-12 season. That season Galatasaray defeated CSKA and Olympiacos and reached Top 16 in EuroLeague. In June 2012, Mahmuti parted ways with Galatasaray.
Oktay Mahmuti turned back to Anadolu Efes after leaving Galatasaray in 2012-13 season. Anadolu Efes reached quarter-final in EuroLeague and they lost the series 3-2 to Olympiacos. Same season Efes finished second in TBL and then they were eliminated against Banvit in semi-final. In December 2013, Mahmuti terminated the contract with Anadolu Efes.
Oktay Mahmuti agreed with Darussafaka Dogus for two years in 2014. In 2014-15 season, Darussfaka reached semi-final in Turkish Cup. Darussfaka was given a wild card to play in EuroLeague and Mahmuti was in charge of the team in first game. On 31 May 2016, his contract has expired.
Oktay Mahmut re-joined Galatasaray on 12 January 2018 and signed for 1.5 years with his former team. Mahmuti left Galatasaray because he could not agree with the team’s president on financial issues. On 2 July 2018, he left Galatasaray by terminating his contract unilaterally.