Fagurholsmyri is a farm community in the Oraefi County. On a fine day, the view from there in all directions is magnificent. Down below the cliffs is an airstrip, which originally broke the isolation of the county early in the 20th century. Even the sheep for the abattoir went by air to the capital.

The present farmer at Hofsnes, Sigurdur Bjarnason, offers unforgettable tours to the headland Ingolfshofdi (bird cliffs) and his son, Einar, leads mountaineers all over the mountains of the area. There is a shop and a petrol station at Fagurholsmyri. The county was devastated twice (1362 and 1727) by tremendous eruptions of the strato volcano Oraefajokull.