Hamlet Hjalteyri is located in the Galmastrond Area north of town Akureyri. It started developing at the turn of the 19th century and soon became very active. Its small harbour, sheltered by a spit of land, was improved much later (1980). Hjalteyri became an authorized trading post in 1897. In 1905, Norwegian entrepreneurs started fishing and processing herring there in 1880. The Swedish followed suit in 1905, then the Scottish and German in 1906. Sometimes herring was netted from land at Hjalteyri, when the great schools entered the bay.
Icelandic entrepreneurs took over in 1913 and continued until the herring disappeared from the fishing grounds in the sixties. The people at Hjalteyri suffered less economically than most other fishing towns in the northern part of the country, because they continued fishing from small boats and the catch was good. Several companies have been established at Hjalteyri during the decades. A research centre for the aqua farming of the Atlantic Halibut was established there in 1985 and the results have been excellent.
In old factory at Hjaltryri during summer is a gallerie.