Yes you can transfer it but need to wait until over 60 days after you purchased it.


Step 1: Domains Page 

Go to Admin Center, Settings -> Domains Page

Step 2: Enable Domain Transfer

On Domain Page, select the Office 365 domain that you want to transfer to another domain registrar , select Domain Transfer -> Enable Domain Transfer

Step 3: Ready For Transferring Domain

Follow the steps to get ready for transferring domain

Step 4: Transferring A Domain

After get the code, go to website of the domain registrar where you want to manage your domain name going forward and follow their directions for transferring a domain

Step 5: View The Code Again

If you need to see the code again, open the Domain settings page in Office 365, select View Authorization code for domain transfer

Step 6: Renew Your Domain

After the transfer is complete, you can renew your domain at the new domain registrar

Step 7: Complete

To finish the process, go back to the admin center Domains page and select Complete Domain Transfer