Arnastapi used to be an important trading post and had a much larger and livelier community then than it does today. However, some families live here all year round. During the summer, birds and people abound here, the latter can often be found fishing or in their summer houses.
There is a very interesting and very old hiking trail along the coast. From here you can see the old fishing spots of fishermen, watch many species of birds such as the Rissa, the Arctic Tern and the Fulmar and cross a lava field. Beautiful basalt columns and cliff formations surround the pier in Arnastapi and make it stand out.