Olema is an unincorporated community in Marin County, California. It is located on Olema Creek 2.25 miles south-southeast of Point Reyes Station, at an elevation of 69 feet. Olema is along State Route 1 at its intersection with Sir Francis Drake Boulevard, on the eastern edge of the Point Reyes Peninsula in the western part of Marin County. The nam…Olema is an unincorporated community in Marin County, California. It is located on Olema Creek 2.25 miles south-southeast of Point Reyes Station, at an elevation of 69 feet. Olema is along State Route 1 at its intersection with Sir Francis Drake Boulevard, on the eastern edge of the Point Reyes Peninsula in the western part of Marin County. The name Olema comes from the Coast Miwok placename meaning "coyote valley".