How to transfer Google Cloud project ownership?

I would like to transfer ownership of Google Cloud project completely. By completely I mean rather than sharing ownership between multiple users, removing my account from project. Is there any way to do it?

1. Share your project with a destination account using Permissions/Add Member/Is Owner
2. Accept invitation from destination account.
3. Remove yourself from this project. (Permissions/Select your account/Remove)

In case there are still people looking for the answer, the process may have changed a little bit. As of December 2018 -

1. Navigate to your project at https://console.cloud.google.com/

2. Click the "hamburger" menu button. Click Menu Button

3. Select "IAM" under "Access" Click IAM

4. At the top, click "ADD" Click ADD

5. Name the new Owner and select "Owner" under "Project" Select Owner under Project

6. Instruct your new Owner to Accept the Invitation

7. On new Owner's account, go to Billing in the "hamburger" menu and either link the project to an existing billing account or set up a new Billing account to link the project to.

8. On the new Owner's account, go back to the IAM section and delete your account from the list by clicking the pencil on the right and then the trash can icon. Pencil Trash can

After the transfer of ownership is completed, you will need to change the billing account too, in order to link it to the billing account of the new user

1. Go to IAM and Admin
2. Then Select IAM
3. Click Add
4. Provide another user's email and select roles as Project owner
5. Once another user accept your invitation you can remove yourself.
6. In Billing Section, modify Billing account/

I dont thing is possible but one thing you can do is add another admin.