Hvam coached the U.S. Nordic combined teams at the 1952 Winter Olympics in his native Norway, where he found he could still outjump the athletes he coached. He continued to operate ski shops in Portland and on Mount Hood until he retired in 1962. He continued to ski recreationally into his mid-80s. He was inducted into the United States National Ski Hall of Fame in 1967, the Oregon Sports Hall of Fame in 1992, and is a member of the Northwest Ski Hall of Fame and the U.S. Ski Business Hall of Fame. Hvam suffered a heart attack at his Beaverton home and died on March 30, 1996.