As the gay community/scene is very small, active sub-communities such as bear groups are hardly to be found. What you will find though is a annual bear event called Reykjavik Bear, previously known as BEARS ON ICE, where local and visiting bears, chasers and friends take over the local gay scene, usually the first weekend in September or the US Labour Day Weekend (check out ReykjavikBear.is for more information).

There are a few social groups, some are very active (Reykjavik Bear, LOKI: a society of queer men and gender queer/ non-binary people, Queer Choir, Q-Students) and other not so much (Styrmir, Vera: a society of queer women and gender queer/ non-binary people).  Best way to find out is to contact them directly. Browse through the Gay Guide in top menu for list of Organizations, Social groups and annual events.