In 1585 John White drew a map of the New World. A small island along the coast is labeled "Wococon."
On subsequent maps, until 1706, the island was variously called Wokokon, Wococock, Wosoton, and Wocoton. Two maps, in 1672 & 1675 respectively, used the unusual spelling "Okok."
By 1709 the "W" had been permanently dropped, resulting in Ocacok, Occacoke, Occeh, Ocreecock, Oakerccok, and a few other variations.
The first instance of our current spelling that I am aware of, Ocracoke, dates to an 1852 map by A.D. Bache. By the end of the Civil War that spelling had become standardized. Nevertheless, native islanders can still be heard referring to our home island as O'cock or Ocreecoke.
Our latest Ocracoke Newsletter is the story of traveling to the island on Frazier Peele's ferry in 1951. You can read it here: http://www.villagecraftsmen.com/news042114.htm.