Hiking to Kaldbakskambur takes about 1 hour and 30 minutes I recommend to park the car at this parking spot 62.087778, -6.944235 (Just add this geoloaction numbers into your google maps) this parking lot is for public, there is one a bit closer, but at the moment there are trucks driving in there often.

You will see the mountain on the right side just start hiking up there. The higher you go, the better view of the two villages Signabøur and Kollafjørður. When I went it took me about 3 hours in total, but I stopped many times to take pictures.

Disclaimer: Do not go hiking on a windy day. The weather can be very dangerious. Not only at this mountain, but all the mountains in general.