Pros (+) The bunks were the best out of any hostel I've stayed at. They were completely closed in with a curtain that both added to privacy and shut out the hours of daylight well into the night. The kitchen was clean all the time, and the bathroom facilities were great.
Cons (-) The location is a bit far from anything other than a few supermarkets and a noodle station and bakery right down the street, but once you get used to the layout of that section of Hafnarfjordur, its a great place to stay, and my friend and I liked it better than the hostels we stayed at in reykjavik