Kjolsvik is a small cove between Mt Glettingur and Grenmor. It is short, the lowland area is small and landslides are prominent in the landscape.
According to myths, the lowland area was flat and beautiful and there was a lake on top of Mt Vididalsfjall. One night the mountain split across the lake and created the present landscape.
The surroundings of the farmstead are wildly rugged at the southern foot of the very steep Mt Glettingur down by the sea. A short distance above the farmstead is the rocky outcrop Kjoll, which sheltered the farm from landslides. The word Kjoll meant ship or a boat (keel) in the past. The well vegetated land and little snow during winter made the area ideal for sheep grazings. The farm was abandoned in 1938.