Before traveling to Iceland I had heard that the food and drinks were both quite expensive. One thing to keep in mind though is that they don’t expect you to tip so it is not too bad. One reason the craft beers are more expensive is the alcohol tax that is higher on higher alcohol beers. So the double ipa and imperial stout are served in 200 ml pours at most places.
I visited all 3 bars on my list inside Reykjavik. Mikkeller was the most expensive as to be expected. Sometimes it was 1400ikr for a 200ml pour or about $12. Mikkeller does not serve local beers but Norwegian beers and other imports. The selection is nice and at least given the price they are used to giving you a splash to taste a few before buying. Ironically I ended up ordering a beer from the US because they had recently finished a tap takeover featuring breweries from the Midwest.
Other bars serving local beers were more reasonable depending on what you bought. Two Reykjavik bars focus on serving the beers of two Icelandic craft breweries. So while you can’t visit the breweries directly you can order flights (though they are so expensive I would suggest sticking with the pints). Microbar primarily serves beers from Gaedingur brewing and they had a very delicious west coast style ipa that very much hit the spot. This one was 1200IKR for a pint, which is about $9.50
Just down the street is Skúli craft bar, another local bar, this one primarily serving beers from Borg but also offering other guest taps as well. When I visited there my husband and I together had a delicious imperial stout (brewed by Borg), milk stout (from Mikkeller), and saison (also from Borg). The saison was nice and crisp herbal and fruity with thyme added. It had a light honey flavor on the back. This reminded me of some of my favorite saisons brewed in the United States and really hit the spot. Prices here made me appreciate the prices at Mikkeller in Bangkok. Needless to say I didn’t drink a ton of beer while I was there because of the prices.
I would absolutely suggest anyone who visits Reykjavik go to both Microbar and Skúli craft depending on the style you like. They are both very close to each other. Google knows where Microbar is but gets the location of Skúli a bit wrong. The best way to get to Skúli from Microbar is to go out the south entrance and turn right, then look to your left for the Skúli sign. Visiting these bars is also the best way for someone to try some beers from the smaller breweries without leaving Reykjavik. Elsewhere you will find plenty of mass produced lagers and occasionally beers from Einstok, one of the larger Icelandic craft breweries, including their toasted porter, white ale, and pale ale. Ironically it is probably cheaper to buy Einstok beers in the stores in the US but it is still nice to order a few while in Iceland. The pale ale was nice and lightly bitter, featuring plenty of English style hops.