Lake Holmavatn is at 130 metres above sea level and has an area of  0,55 km².  It is located in the centre of the Hrutafjardarhals area, just south of a 4wd track between Hrutafjordur Bay and valley Vesturdalur further east.  It hae been exploited for centuries on end until the fish disappeared at the end of the 20th century.  Between 3000 and 4000 lake char fries were released into it and seemed to thrive well the nex 2-4 years, but then disappeared.

The distance from the capital is 186 km  by the Whale Bay tunnel.