Kroksfjardarnes is a peninsula between the bays Kroksfjordur and Gilsfkordur and an authorized trading post since 1895. The co-operative society was founded in 1911 and built its warehouses down by the sea. They stood there until 1962, when new ones were built on the main road.
Branches were operated at Reykholar and on Skalanes. A telephone station was opened there in 1928 and since 1932, postal services have been offered. The first settler of the area was Thorarinn Krokur and it is mentioned in the so-called Gull-Thorir’s Saga.