Hvannasund covers 16 merkur of copyhold land, which is divided between four copyhold tenants. The village is mentioned in the first Faroese land register from 1584. The sheep herd consists of 380 animals.

Since 1974, an embankment has linked Hvannasund with Norðdepil on Borðoy. Together with the villages of Norðdepil, Depil, Múli and Norðtoftir on the eastern side of Borðoy, Hvannasund constitutes Hvannasunds Kommuna. The protecting embankment across the sound has meant that it has been possible to build a modern port with port facilities on both sides of the sound, which has led to a lot of fishing-related businesses such as Bakkafrost.

Previously, Hvannasund and Norðdepil each had their own school, but Skúlin á Fossanesi, which was built in 1983 and expanded in 2009, is now a community school for the entire municipality with classes from 1st to 7th grade. Schooling continues in Klaksvík from the 8th grade. The school also has an after-school facility, and the village has an integrated day-care facility.

The number of inhabitants in the village of Hvannasund increased from 138 to 264 people in the period 1966‑2024.

Source: Trap.fo