"Blend of Ona and Lee"
The name Onalee is commonly a female name from the "English" origin.
Onalee reads as the given name Ona joined to the -lee suffix, the pattern also seen in Annalee and Rosalee. Ona itself is a documented given name, used as the Lithuanian form of Anna and in Ireland as an anglicized form of Una. The combined spelling appears in United States birth records from 1904 onward.
The pronunciation of Onalee is OH-nuh-lee.