River Olafsfjardara is divided into five two rods' fishing areas.  The mainstay of the catch is sea char, but also local brown trout.  The fishing period starts July 15th and ends September 30th.  Fly fishing is permitted during the whole period and worm fishing to August 20th.  The river feeds Lake Olafsfjardarvatn, where everybody is invited by the municipality to fish free of charge.

The distance from the capital via the Whale Bay tunnel is 414 km.  and 62 km. from Akureyri.