It was located on a peninsula on the southern shore of the Bømlafjorden inside the present-day municipality of Sveio.

On 1 April 1870, the Øklandsgrend area (population: 247) of the neighboring municipality of Finnås was transferred to Valestrand.

[4] The municipality (originally the parish) is named after the old Valen farm (Old Norse: Vaðlar) since the first Valestrand Church was built there.

The first element is the plural genitive case of vaðill which means "ford" or "shallow water".

[6] The municipal council (Heradsstyre) of Valestrand was made up of 13 representatives that were elected to four-year terms.