According to documented sources this island was  not inhabited in the past and confirmation of ownership prior to 1379, when it belonged to the Church of Vik, is not available.  Its ownership is linked to grain crops cultivation.  Skuli Magnusson, the governor of the country, on behalf of the church took the dispute of ownership with the farmer at Nes to court and lost. large eider colony and the people of Seltjarnarnes frequented good lumpfish grounds on its northern side.  The first navigation marker near Reykjavik was erected there in 1854.  Rabbits were bred there in the beginning of the 20^th century.  The municipality of Reykjavik bought the island in 1969 and after 1978 it fell within the limits of the town.
It teams with puffins, (How start around year 2000 nesting at Akurey after long period of time nesting there again) black guillemots, fulmars, arctic terns and other species, and sightseeing tours from Reykjavik Harbour include bird watching there.