Update:
As thankfully stated by @Brother Woodrow in the comments, Knockout offers an API method .toJS() for the job:
var notObservable = ko.toJS(observableVar)
https://knockoutjs.com/documentation/json-data.html
Old answer (don't use this if your observable object has sub-observables):
To create a shallow copy of an object, you can useObject.prototype.assign():
var notObservableVar = Object.assign({}, observableVar());
The other option is to use Object destructuring:
var notObservableVar = {...observableVar()};
Please note that both methods require ES6 support - either in your buildstack (Babel), or in the browser that this is supposed to run in. Also note that for Object destructuring to work with Babel 6, you need a plugin (because Object destructuring was still a proposal when Babel 6 was the current version).
If ES6 is not available for you, you can use the old way of stringifying and then parsing the object:
var notObservableVar = JSON.parse(JSON.stringify(observableVar()));