The word "bakery" in Anchorage generally refers to the baked goods section at Carrs, Fred Meyer or even Costco. But for yuppies, of which there are many, "bakery" more often refers to the Flying Dutchman on Abbott or Café Europa on West 36th. Standing out from both groups is Charlie's Bakery on "C" Street and Northern Lights.
Charlie's offers good lunch-time fare with delightfully overstuffed sandwiches and authentic Chinese dishes at reasonable prices. Additionally, Charlie's produces fantastic European and Asian (European inspired) baked goods. There you can find great éclairs as well as decadently rich pastries to which you generally don't know the names. I personally recommend the custard rolls (found behind the counter, along the wall with the bread). Also check out their dim sum lunch every Saturday - it's the best (and only) place to find it in the city.