The farm has its name from the ocean bay close by called Vågsvågen.
Different spellings of the name through the ages have been Wage, Vog, Wog, Wogh, Waag, Wog, Vaag, Waag, Wåg and now the modern version is Våg. Different papers from different periods show the various spellings. The official documents states the name Vaag for this property, and hence the name we use in writing about the farm. The modern official address goes by the modern spelling Våg.
The history of the name is old, and there are traces of early, early agricultural activities and people living in this specific area, dating back to at least the Iron Age, it might even be from the Stone Age. The story tells that there have been found an axe of flint dating 3000 years back, among other things.