The inlet of Geilston Bay was named after Colonel Andrew Geils who was appointed Commander of the settlement of Hobart in 1812, upon the death of David Collins.

Colonel Geils lived on property in Geilston Bay which he called “Geilston Park”. As well as being the home for the Commander, the suburb once had a large apple orchard, and at another time a golf course.

Local Boat owners moor their yachts in the bay and frequent the Geilston Bay Boat Club which organise races, operates two slipways and a five berth jetty and has a function room and bar facilities. The River Derwent was the site of the first regatta in 1827 in Australia.