Malmey is an uninhabited island off the northern coast of Iceland, one of the three islands in the Skagafjörður bay. It is a long and narrow island, about 4 km long and about 1 km wide, surrounded by cliffs on all sides. The structure of the southern part is hyaloclastite and the northern part shows the remnants of a shield volcano, which probably erupted early in the ice age. There is a lighthouse which was built in 1937. The island is well vegetated and the farmland was considered very good. It was inhabited until 1950, when a fire destroyed the farm which housed 14 people and it has remained uninhabited since.