As Hødd coach, Brakstad won the 1994 Norwegian First Division and gained promotion to the 1995 Tippeligaen.
The team reached the semifinal in the 1995 Norwegian Cup, and in the league they finished 12th in their first season back in the top flight and was relegated.
In 1999, under Brakstad's management, Molde became the second Norwegian club to enter the UEFA Champions League.
[3][4] On 20 October 1999, he led the team to their first Champions League win in club history by defeating Olympiacos 3–2 at home.
On 17 November 2003, Brakstad was appointed as the first head coach in the recently founded club Kristiansund BK.