Faxi is a waterfall in the river Jökulsá á Fljótsdal and is about 20 meter high. Faxi is located in the east of Iceland near mount Snæfell. Faxi is a beautiful scenic waterfall, one of the more photogenic waterfalls in Iceland. Therefore worthwhile to visit.
There is another waterfall called Faxi in Iceland that is also called Faxafoss (Vatnsleysufoss). This one is located near Reykholt along road 35.
From Egilsstadir in the east of Iceland take road 931 along lake Lagarfljot. At the end of the lake turn right on road 910 (Austurleid). Follow this road for 30 kilometers driving closer to mount Snæfell. Road 910 is only for 4WD and I saw a warning for crossing dangerous rivers! From the road it about 2,5 kilometers walking towards the river.
Until the river Jökulsá í Fljótsdal was developed for hydroelectric production, it fed a number of powerful waterfalls. Although their volume has diminished, the hike upstream from the old Kleiffarmstead is still enjoyable. You go through the birch bushes of Kleifarskógur, pass the waterfalls of Gjögurfossar and Faxi and up to Kirkjufoss, the highest of all the falls in the river. Farther up, you also get to Hrakstrandarfoss and Eyjabakkafoss, which is just below the old ford over the river.