Dowie was brought into the KC Stadium as a 'football management consultant' when Phil Brown was placed on gardening leave back in March.
However, he was tasked with keeping Hull in the top flight but could not prevent The Tigers from dropping out of the Premier League and back into the Championship.
Despite throwing his name in to the hat as a manager for the forthcoming season, Dowie has yet to hear anything and told Sky Sports: "Well, I mean we'll wait and see. That's a decision that obviously (chairman) Adam (Pearson) and (owner) Russell Bartlett will do. "They have got a lot of difficult financial challenges.
"I actually really enjoyed it, I couldn't have asked for more from the players, I thought they were committed."
"I keep waking up in the middle of the night thinking about the last three minutes at Wigan and maybe at Portsmouth - you turn them over but I have to say I couldn't have asked for any more of the players."
Asked when he thinks the decision might be made, Dowie said: "I don't think so, you'd have to ask them - as I say Adam and Russell have got a lot of challenges to make, he's clearly made it very open that it's the key element to deal with, maybe restructuring the club, making sure the club can go forward on a Championship budget and that's very, very important so whenever that comes.
"At the moment I'm busy making sure my son's revising for his A-levels and getting beaten by both my sons at golf so that's fine."