Krókavatn is on Fellsheiði, southwest of Þverfell and 5 km in from Finnafjörður. It is 0.56 km² in area, quite deep and at 160 m above sea level. There are good fish in Krókavatn, both Arctic char and brown trout. The brown trout can reach 4 pounds and the char, 3 pounds. The fishing is best soon after the ice melts and on into June. In July, fishing declines and by August there is limited fishing. It is possible to reach the lake in big jeeps and to travel halfway to the lake in smaller four-wheel drive cars. By the lake is a cabin that is good to use when the weather is cold.