"For sure I see a mini me," she tells PEOPLE with a laugh at Variety's Power of Women luncheon in Beverly Hills Friday, before adding: "I was a tomboy when I was a kid. Honor is like me grown up. It's so bizarre."
Perhaps her daughter is simply reacting to her mom's burgeoning mogul status. In addition to Alba's busy acting career, the Sin City actress is also the founder of The Honest Company, which makes stylish, eco-friendly products for kids and families.
Alba, 32, admits that Honor and younger daughter Haven, 2, are longtime guinea pigs for the company.
"Oh my God, yes," she replied when asked whether the girls still test out new products at home.
Their favorites right now?
"Honor loves to clean the counter with our multi-surface cleaner 'cause it smells like grapefruit, and Haven loves to wash her hands. So we now have three different scents, so she's always trying to wash her hands. I'm like, 'All right, enough washing the hands!' "
Despite juggling multiple duties as an actress, entrepreneur, mom and wife to Cash Warren, Alba says she makes sure to carve out time to show Honor the importance of giving back.
"I've taken Honor to Baby2Baby, and they have this awesome thing they do called 'Give Back Wednesdays,' " she explains about the program, in which kids like Honor choose a name of a child in need from the organization's "giving tree" and then put together a care package of items – shoes, diapers, wipes – culled from Baby2Baby's warehouse.