<p>A hair wrap device and method of using magnets for closing the devices are disclosed. The magnetic hair wrap comprises an elongated fabric with a predetermined length and width suitable for tying users' hair. The users treat the magnetic hair wrap as an ordinary piece of an elongated fabric and wrap the magnetic hair wrap around their hair either a single time or multiple times and then simply secure the two distal ends of the hair wrap through the built-in magnetic attraction exerted by the magnets embedded within the two distal ends by slightly pressing the magnets against one another. The wrap can be used for other applications where a conventional retention device is used, such as a headband.</p>