This is an easy "Park and grab" cache, the cache is less than 200 meters from the parking, with a really nice point of view over ocean and mountains, and a little "culture spot" if you would like to read something about icelandic sagas and crazy vikings !
EDIT // About the hint, if you need it... please note it´ s summer, so things are growing a bit, and you might not be able to see "in an obvious way" the second part of the hint... (you will understand once there ;)
The Borgarfjordur is well knowned for all the sagas episodes, especially the one of Egil Skallagrimsson.
The cache will bring you to one of the spots of an important event of the Egil's chilhood. The place is called Brákarsund, name after a woman, Þorgerður Brák, which was the nanny of the young Egil.
The Saga recites how she saved Egil´s life when his father, a nice guy but with a really "viking temper", ran mad and attacked him. Þorgerður interfered and Skallagrímur then turned his wrath against her. She took flight and ran to Brákarsund where she plunged into the water. Skallagrímur threw a rock after her that caught her between the shoulder-blades. No one saw neither she nor the rock again. As a grown man Egill named his daughter Þorgerður. At Brákarsund you could learn more about this story.