Hakonsen is widely considered one of the most influential snowboarders of all time and was one of the sport's early icons.

Hakonsen dominated freestyle snowboarding in the 1990s winning the ISF World Championships in half-pipe three times in a row, in 1993, 1995 and 1997. He has also won 5 European championships in half-pipe (1991, 1992, 1993, 1994, 1997), the U.S. Open in half-pipe 3 times (1992, 1993, 1995), and the Mt. Baker Banked Slalom 6 times (1995, 1996, 1998, 2000, 2003, 2004). He also won the Innsbruck Air & Style Contest in 1995. Håkonsen set the world record for highest 'air' during the finals of the Arctic Challenge in Oslo 2007 when he reached 9.8 meters out of the top of the quarterpipe with a backside 360.

He is the creator of an aerial snowboard maneuver named The Haakon Flip.

Håkonsen is also credited to have developed the T6, the world's first snowboard to be made out of a material named "Alumafly," an aluminum honeycomb construction and as a co-creator of the Burton Fish (a powder-specific board) and the Burton Malolo, a cross-breed between a freestyle and powder board.

He starred in the documentary First Descent, along with four other exceptional snowboarders, including Shaun White. Other films include The Haakonson Factor and Subjekt Haakonson by filmaker Dave Seoane.

Håkonsen has referred to the late snowboard legend Craig Kelly as his mentor.

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