Ready to go, full of adrenaline and fired up for any challenge,usually involving steep mountains or homemade ramps.Common useage occurs mostly amongst mountain bike and skateboardy types. Others sportsmen do on occaision borrow this phrase.
I'm like totally stoaked after that gnarly mountain dude.
I'm like gonna just go out there and pull off a 1080 man, cause i'm like totally stoaked dude.
Unfortunately this is spelling is a bastardisation of the word 'stoked' which has its base in the 'stoking' of a fire - which basically gets it burning higher
Hence " I'm stoked" is the correct spelling - not "I'm stoaked"
Stoaked - See entries under "stoked"