Lake Gunnvararvatn on the Langanes peninsula in the Northeast, has an area of 0,08 km² and is situated 19 m above sea level. A brook connects it with lake Eidisvatn and the road there passes Lake Gunnvararvatn.
The lake is beautifully situated in a well vegetated mountain pass where the view across lake Eidisvatn to the sea is breathtaking. The lake abounds in excellent lake char and brown trout. The lake is netted every now and then.
The distance from the capital is 646 km by the Whale Bay tunnel and 17 km from Thorshofn.