I have an online store on Magento Community with an address xyz.com, but I have made another store on highwire with the address like x-yz.highwire.com. Is their a way that I can shutdown the store on Magento Community and transfer the website name xyz.com to replace x-yz.highwire.com.? Thank you.
If the sub-domain is on the same physical server, just remap that sub-domain to the existing Magento folder along with the address redirect. Then there will be no need for transferring files, DBs, etc.
If you want to actually move all data you could dump the database and take the sql file and import it. Then move all of the files over. You will need to make sure the database usernames are the same, as well as the database names. Then the file structure should be the same. If you do all of those things and ensure your configuration files point to the new domain there should be absolutely no reason it would not work.