And with Bowe being the only player not plying his trade at an Irish province to start any of the recent autumn internationals, there is plenty of speculation that he may decide to return home in six months time.
"I've been putting it off for quite a while, but I'm starting to get back into negotiations," said Bowe.
"It's not something I particularly enjoy. I prefer to get on with playing.
"It's a case of leaving people to sort it out and then making a decision whenever I have to."
Bowe, who moved to the Liberty Stadium from Ulster at the beginning of the 2008/09 campaign, has been in superb form since joining the Ospreys.
Having regularly starred for the Welsh region in the Magners League, Bowe has gone on to establish himself as Ireland's first-choice wing.
He played a key part in his country's first Grand Slam triumph since 1948, scoring the crucial try in the deciding match against Wales.
And Bowe's incredible year got even better over the summer, when he started all three Tests for the Lions on their tour of South Africa.
Bowe has often publicly stated that he is more than happy at the Ospreys, even attributing his improved form to the change in environment.
"The past 18 months has worked very positively for me," added Bowe.
"I've really enjoyed the style of play of the Ospreys. It's suited me down to the ground.
"I believe I am able to bring something different to the table, having played in Ireland for a few years. It's nice for me to be involved in the different sides of the game.
"It's helped me on a whole lot of different levels. From a rugby-point of view playing wise and on the mental side as well in that I can have a say in what's going on."