This article is a natural continuation of the paper Tiwari, D., Giordano, P., Hyperseries in the non-Archimedean ring of Colombeau generalized numbers in this journal. We study one variable hyper-power series by analyzing the notion of radius of convergence and proving classical results such as algebraic operations, composition and reciprocal of hyper-power series. We then define and study one variable generalized real analytic functions, considering their derivation, integration, a suitable formulation of the identity theorem and the characterization by local uniform upper bounds of derivatives. On the contrary with respect to the classical use of series in the theory of Colombeau real analytic functions, we can recover several classical examples in a non-infinitesimal set of convergence. The notion of generalized real analytic function reveals to be less rigid both with respect to the classical one and to Colombeau theory, e.g. including classical non-analytic smooth functions with flat points and several distributions such as the Dirac delta. On the other hand, each Colombeau real analytic function is also a generalized real analytic function.