The meaning of the old island name is uncertain, but it is speculated that it might be connected to the Norse god, Höðr.

The official blazon is "Azure, three arrowheads argent points to chief" (Norwegian: På blå grunn tre opprette sølv piloddar, to over ein).

This means the arms have a blue field (background) and the charge is three arrowhead symbols that are pointing upwards.

The charge has a tincture of argent which means it is commonly colored white, but if it is made out of metal, then silver is used.

The arrowheads were chosen as a symbol for the Battle of Hjörungavágr in 986, in which Earl Håkon defeated the Danish Vikings.

The municipal council (Kommunestyre) of Hareid is made up of 21 representatives that are elected to four year terms.

In recent years Hareid has developed into a modern industrial municipality with a variety of industries, including furniture, fish farming, offshore and subsea ship systems, and other manufacturers of ship equipment.

Such clusters are considered by the EU to be powerful engines of economic development and drivers for innovation in Europe.