KVET-FM shares studios and offices with other iHeart sister stations in the Penn Field complex in Austin's South Congress district (or "SoCo") near St. Edward's University.

James E. Moore, Jr., applied for a construction permit to build an FM radio station on 98.3 MHz in Austin on November 4, 1955.

Southwest Republic, which Kennedy joined as vice president, then bought separately owned KASE (970 AM) and renamed that station as KHFI AM that November.

The station shed its classical format, shifted to more of an adult contemporary sound, and began FM stereo broadcasts.

[8] Southwest Republic, owned by John Kingsbery, merged alongside concrete producer Featherlite Corporation into Kingstip, Inc., in 1971.

In early 1979, the format was jettisoned, and KHFI-FM became "Disco 98", capitalizing on the success of Saturday Night Fever and WKTU in New York City.

Oppenheimer's acquisition reunited KHFI-FM, now having shifted to Top 40 as "K-98", with the former KHFI AM, now religious KIXL, generating concerns that a format change was in the air.

[13] The format never changed, and KHFI-FM established itself as a ratings leader in Austin during the first half of the 1980s, dueling with KASE-FM for the number one position.

[17] Industry publications heralded the transaction as representing the largest loss in the history of commercial radio in the United States; KHFI-FM had sold for one-fourth what it was worth in 1986.

[17] Before the Spur Capital purchase was announced, two rumors were flying at KHFI-FM: that the station had been sold for a shockingly low $5 million and that it would flip to a country music format.

Butler Broadcasting, the owner of country KVET (1300 AM), was seeking a place to move that station's format to the FM band.

[21] Coinciding with the beginning of the FM simulcast, that station's existing morning show was blown up and a new team of Sammy Allred and Bob Cole instituted.

On July 13, 2023, it was announced that KVET-FM would become the FM flagship station for the Texas Longhorns, as part of a deal made between the university and owner iHeartMedia.

When Clear Channel began leasing the translator, Air 1 was dropped in favor of a simulcast of co-owned sports station KVET.

"[30] On March 7, 2013, at 3 p.m., after playing "Bizarre Love Triangle" by New Order, KVET-HD2 and K276EL flipped to "iHeart Austin", which was intended as a temporary "pop-up format" dedicated to the South by Southwest festivals.