The original name petitioned by residents was Rosario, but the name was already taken. John Ohlert, a local store owned, suggested the name of his mother in Germany, Olga Ohlert. The name was approved and the Olga post office was established on March 3, 1890.
The community is located on Orcas Island's south eastern area. It is on the eastern shore of East Sound. Northwest is Rosario and Eastsound. Mount Constitution is north. South is Obstruction Island and northeast is Doe Bay and Sea Acre.