The odd thing about this procedure is that you are supposed to cancel IFR when visual, but the missed approach procedure is a clear IFR procedure with a VOR hold.
So, let's say the cloudbase is 1600ft QFE so you get visual just before the MAPt, you cancel IFR, then for whatever reason decide to go missed, and you now need to get an IFR clearance in a damn big hurry, because you are going to be re-entering IMC to fly the missed approach. How is this means to work?
The hold at 4000ft appears to be OCAS so nobody is actually going to care but you will be illegal unless you get a new IFR clearance, and LOAV presumably can't give you one.