The Collaborative International Dictionary of English v.0.48:

coralwood \coralwood\ n.
   an East Indian tree (Adenanthera pavonina) with racemes of
   yellow-white flowers; cultivated as an ornamental.

   Syn: red sandalwood, Barbados pride, peacock flower fence,
        Adenanthera pavonina.
        [WordNet 1.5]

WordNet (r) 3.0 (2006):

coralwood
    n 1: East Indian tree with racemes of yellow-white flowers;
         cultivated as an ornamental [syn: coralwood, coral-
         wood, red sandalwood, Barbados pride, peacock flower
         fence, Adenanthera pavonina]