Welcome kdarling.
Yeah, looks like Hylabos in Tacoma to me. However, Ollala is on the Pennisula on the west shore of Colvos Passage. If I recall, Ollala used to be a nice thriving little town at the beginning of the last century due to lumber, fishing, and farming. They had built up a commercial dock there at the lagoon and the local fleet of small passenger and cargo boats stopped there regularly.
The commercial shipping dried up after roads were better developed in the region and commercial ferry operations began. When the Narrows Bridge was built that did it. I don't think anything of left of the old docks. The area now is a nice, quiet, residential area and the businesses migrated to other other port towns such as Gig Harbor, Port Orchard, Bremerton, Silverdale etc...