Olafsfjorduris a fishing and commercial town on a bay with the same name. The fishermen there are expert sea anglers and can smell the richest fishing grounds from far away. Their boats are specially equipped for the purpose and the catch belongs to the anglers.  Beware, it might be too much to carry home. The chef at the hotel takes care of preparing a good meal from the catch upon request.

The distance from the capital is 414 km by the Whale Bay tunnel.