Kaldbakur is one of the so-called Westfjords Alps - the tall and pointy mountain range between Dýrafjörður and Arnarfjörður. Most Westfjords mountains are flat topped as a result of Ice Age glaciers, but the "Alps" are tall and pointy and look a little bit like, well, the Alps…Kaldbakur is the tallest of them and, at 998 metres tall, it is the tallest mountain in the Westfjords region.
From Kaldbakur is a fantastic view over the Westfjords mountain range. Hiking on Kaldbakur is relatively easy in good conditions, a drive along a mountain road (only suitable for well equipt jeeps) leads to the mountain pass Kvennaskarð that seperates Dýrafjörður and Arnarfjörður. Hiking from there and to the top of Kaldbakur and back takes around 4 hours. Hiking from Fossdalur in Arnarfjörður is also an option.