The lakes (from which the district takes its name) were named by local pioneer, Nugent Wade Brown, in 1894.
Coalstoun Lakes State School opened on 25 July 1910.
That origin is unlikely because the name 'Coalstoun' is a corruption of the word 'Colstoun', which was the ancestral home of the Brown family in Scotland. Colstoun is located south of Edinburgh and remains in the Brown family. Nugent Wade Brown's father, John Brown (1787–1860), emigrated to the Colony of New South Wales and established a property named Colstoun near what is now Gresford in the Hunter Valley in 1838.
According to Queensland Department of National Parks, Sport and Racing "The lakes were named after Coalstoun in Scotland by Wade Brun, manager of nearby Ban Ban Station."  There is no doubt that Nugent Wade Brown and Wade Brun were the same person. His wife, Margaret Campbell-Antill, was an aunt of Major-General John Macquarie Antill .
Coalstoun Lakes has a number of heritage-listed sites, including:
- corner of Glenview Street and Cemetery Road: Coalstoun Lakes Cemetery
- corner of Isis Highway and Glenview Street: Coalstoun Lakes Memorial Hall
- Australian Bureau of Statistics (31 October 2012). "Coalstoun Lakes (SSC)". 2011 Census QuickStats. Retrieved 18 April 2014.
- "Coalstoun Lakes (entry 7541)". Queensland Place Names. Queensland Government. Retrieved 18 April 2014.
- "Coalstoun Lakes (entry 47367)". Queensland Place Names. Queensland Government. Retrieved 18 April 2014.
- "QUEENSLAND ROYAL SOCIETY,". The Brisbane Courier. National Library of Australia. 17 March 1894. p. 6. Retrieved 19 April 2014.
- Premier Postal History. "Post Office List". Premier Postal Auctions. Retrieved 10 May 2014.
- "Opening and closing dates of Queensland Schools". Queensland Government. Retrieved 18 April 2014.
- "Colstoun". Colstoun House, Haddington, East Lothian, Scotland. 2018. Retrieved 6 December 2019.
Colstoun is also the Ancestral Home of the Broun Family.
- "Brown, John (1787–1860)". Obituaries Australia. 2012. Retrieved 5 December 2019.
- "Coalstoun Lakes National Park - About Coalstoun Lakes". Department of National Parks, Sport and Racing. Queensland Government. Retrieved 18 July 2017.
- "Brown, Nugent Wade (1841–1919)". Obituaries Australia. 14 July 1919. Retrieved 5 December 2019.
- "Margaret Cambell-Antill". Geneanet. Renaud BROWN de COLSTOUN. Retrieved 5 December 2019.
- "Queensland Globe". State of Queensland. Retrieved 5 December 2019.
- "North Burnett Local Heritage Register" (PDF). North Burnett Regional Council. Archived (PDF) from the original on 16 August 2019. Retrieved 16 August 2019.