Is there an offline maps application for Android?
Yah, there is a terrific one, called Maverick Lite.

Off-road GPS navigator with OSM, Google and Bing maps. Support for offline maps &amp; multi-touch. Build-in compass, timer and trip computer. Share your current or planned location. Record and upload tracks to GPSies.com. FourSquare support.

And it's free. the paid version costs about $4