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Coakley \co(ak)-ley\ as a boy's name is of Old English origin, and the meaning of Coakley is "charcoal meadow". Place name. Coke was the term for the flammable residue from burning coal, and a valuable resource of fuel. Coakley has 4 variant forms: Coakly, Cokeley, Cokelie and Cokely. A baby name that sounds like Coakley is Quigley.