Thangbi Mani is a four-day festival which is a display of the rich tradition and celebrates the cultural heritage of this ancient Lhakhang.it is held annually from 14 th to 17 th of the eight month of the Bhutanese calendar. The people from the three villages of Thangbi, Goling and Kharsath have been organizing the annual festival since its inception. The tradition which prevailed a long time ago is now gradually fading away. In earlier days people of all walks of life in that community actively participated in making this festival a great success. But now, due to changing social values and out migration of some of the sponsoring households, the valuable tradition is being threatened. The contribution from the community is not sufficient to meet the expenses of the festival. As a result, the festival is losing its original grandeur and significance. In order to revive and sustain the festival, a committee is being formed to coordinate the organization of the festival. The Gomchens (lay monks) of this monastery perform rituals for the entire festival, while some young men and women perform mask and folk dances.

Thirteenth of the eighth month of the Bhutanese calendar is a preliminary day when all the people in that community flock together to witness the rehearsal of mask dances at the courtyard. The next day starts the main event of festival by making offerings to the local deities. On the same day at around 7:00 pm all the mask dances scheduled for the following day is presented to public and guest as well, which perhaps last till midnight . The day's event is flagged off by performing burning ceremony (Ginsek) thus driving away or subduing evil sprits.

On the following day i.e 15 th (full moon) of the eighth month of the Bhutanese calendar at around 10.00 a.m. a ceremonial procession from the Temple marks the start of the festival. Mewang ceremony (fire blessing) is performed in an open ground. The Gomchens perform purification rituals while all the people and guests jump over the flames to get themselves purified from their sins and evil deeds. It is believed that if one is able to jump over the flame three times he or she is protected from ill luck and misfortunes are removed for that entire year. That is why people of all walks of life attempt to jump across the flame three times to be blessed for the whole year. Then mask dances and folk dances are performed as scheduled in the enclosed courtyard of the Temple . Of all the dances Goem Bernak is believed to be the most secret Dance (Tercham).