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1.
One step below A-Okay, meaning not perfect, but you're alright.
Eddie: Hey Karen, how are you?

Karen: I'm B-Okay.
by ChioBam March 19, 2009
 
2.
A synonym for "OK" in the underground music scene. Coined by the character "DJ Dynasty Handbag" from the "Saturday Night Live" sketch "Deep House Dish."
Coolguy A: It's time to get going, bokay?

Coolguy B: Babsolutely.
by jea2000 October 05, 2009
 
3.
Synonymous with "okay" or "sure", but implying "obviously" or "duh". Typically preceded by "Ummm... ".
Trey: Hey Chad, I've got an extra free ticket to the Gaga concert. Wanna come?
Chad: Ummm... bokay!
by D-Roons November 10, 2013