The Collaborative International Dictionary of English v.0.48:

Coast \Coast\ (k[=o]st), v. i. [imp. & p. p. Coasted; p. pr. &
   vb. n. Coasting.] [OE. costien, costeien, costen, OF.
   costier, costoier, F. c[^o]toyer, fr. Of. coste coast, F.
   c[^o]te. See Coast, n.]
   1. To draw or keep near; to approach. [Obs.]
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            Anon she hears them chant it lustily,
            And all in haste she coasteth to the cry. --Shak.
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   2. To sail by or near the shore.
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            The ancients coasted only in their navigation.
                                                  --Arbuthnot.
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   3. To sail from port to port in the same country.
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   4. [Cf. OF. coste, F. c[^o]te, hill, hillside.] To slide down
      hill; to slide on a sled, upon snow or ice. [Local, U. S.]
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The Collaborative International Dictionary of English v.0.48:

Coasting \Coast"ing\, a.
   Sailing along or near a coast, or running between ports along
   a coast.
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   Coasting trade, trade carried on by water between
      neighboring ports of the same country, as distinguished
      from foreign trade or trade involving long voyages.

   Coasting vessel, a vessel employed in coasting; a coaster.
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The Collaborative International Dictionary of English v.0.48:

Coasting \Coast"ing\, n.
   1. A sailing along a coast, or from port to port; a carrying
      on a coasting trade.
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   2. Sliding down hill; sliding on a sled upon snow or ice.
      [Local, U. S.]
      [1913 Webster] Coastwise