In the year 1946, the „settlement law“ was established enabling motivated individuals to rent a piece of land to start farming. Two years later, in 1948, the state purchased half of the estate Midhus, a big piece of land close to Hvolhreppur. This was a rural area with little or none vegetation, but with enthusiasm and prosperity Oli and Olga established a farmhouse in Hjardartun. She was a nurse and he was the mayor of Hvolhreppur and the cashier of the local store. In the year 1963 they stopped farming but lived in Hjardartun until 1990.
Þórður Þórðarson and Ingibjörg Jóhannesdóttir bought Hjardartun in the year 1990. Þórður and Ingibjörg lived in Hjardartun until 1996, but moved to the next farm, Lynghagi that same year.
Sigþór Jónsson and Gerður Óskarsdóttir became owners of Hjardartun in 1996 and lived there until 2004. That year, Óskar Eyjólfsson bought the farm. He, along with his wife, Ása Margrét Jónsdóttir, did a complete renovation and rebuilding where a new farmhouse, stables for 36 horses with a riding hall and storage rooms was built. The facilities are as good as it gets. Óskar started his horse breeding under the name of Hjardartun. The main breeding mare is the winner of Landsmot 2006 and the honorary price mare, Dögg from Breidholti which has only given superb offsprings. In the year 2015, Kristín Heimisdóttir and Bjarni Elvar Pjetursson bought Hjardartun, with good intentions of keeping up the good work from Óskar and Ása.