He last played for Belgian Pro League side Cercle Brugge, where he was also employed as head coach.

He returned to FH for a short period, but apart from a loan spell at Lillestrøm SK and a trial at Genk, he has played for Lokeren from October 1998 until 2006.

For the 2007-08 he was loaned out to newly promoted De Graafschap, before eventually returning to Belgium, playing for Cercle Brugge, where he ended his career as a player in the summer of 2014, becoming assistant under head coach Lorenzo Staelens.

Following the sacking of Staelens on October of that same year, Arnar was appointed head coach.

He made his debut for the seniors in a June 1998 friendly match against South Africa.