The first documented information about farming in Káranes that we have found is from 1397, recorded in documents from Meðalfellskirkja (church which no longer exsists).
Finnur´s great grandparents, (Jón Halldórsson og Ragnhildur Gottsveinsdóttir), started farming as tenants, in Káranes 1890. In 1913, they bought the fram from the landlord. Jón and Ragnhildur worked the farm together for 41 years.
One of their youngest daughters, Kristín and her husband Lárus Pétursson, bought the farm in 1931. In 1958 they invested in a new dairy parlour with their youngest son, Pétur. Kristín and Lárus worked the farm for 30 years.
In 1961 Pétur and his wife, Marta Finnsdóttir bought the farm. Pétur and Marta worked the farm for 44 years. As their parents and grandparents had before them, they modernised the farm by building new storage buildings and investing in new machinery.
In 2005, Finnur, their eldest son, Stella, his wife, and along with Finnurs three brothers, bought the farm thus ensuring the next generation of family farming. The farm was transformed in 2005 when a new modern 10,000sq.ft barn was built with the addition of introducing a milking robot which caters for the heard.
In May 2020 Káranes has been farmed by sucessive generations for 130 years.