The new station, 97.8 FM on the radio dial, began transmitting this past week.
Iqaluit communications technologist Moe Guimond spent three days in Rankin installing the equipment and antenna needed to get the station on the air.
Hamlet SAO Ron Roach said the new system is a native broadcasting station dealing with mostly community issues.
He said the hamlet did not need CRTC approval because the transmitter is only set up for a broadcasting range of eight kilometres.
"We had to fill out an application through Industry Canada, which granted our license and material and issued us the frequency of 98.7," said Roach.
"The process has taken about 10 months, and the hamlet spent $35,000 on the equipment and the technician to come and install it."
With its main studio located upstairs in the community hall, the radio station is, in fact, a partnership between the hamlet and the new radio society.
Hamlet council will fill the role of station director and the radio society will run the actual programming.
Roach said the hamlet will be responsible for all finances associated with the station.
"The radio society will hand in time sheets for people who have been on the radio and the hamlet will issue the cheques, ensuring all the necessary deductions are taken.
"If the society needs to purchase anything, it must do so through a hamlet purchase order.
"In short, everything will be accounted for."
The hamlet will strive to make the station accessible to all age groups and interests in the community.
Roach said the whole idea behind the station is to provide better radio service to the community and eventually broadcast 24 hours a day.
"If an organization wants to do a show, we would charge a fee.
"However, if the high school student council wanted to do a request show, we would do that free of charge.
"The main focus is public use and information.
"We're not putting the station in to make money and cover off other hamlet expenditures."