The Collaborative International Dictionary of English v.0.48:

Candleberry tree \Can"dle*ber`ry tree\ (Bot.)
   A shrub (the Myrica cerifera, or wax-bearing myrtle),
   common in North America, the little nuts of which are covered
   with a greenish white wax, which was formerly, used for
   hardening candles; -- also called bayberry tree,
   bayberry, or candleberry.
   [1913 Webster]

WordNet (r) 3.0 (2006):

candleberry
    n 1: deciduous aromatic shrub of eastern North America with
         grey-green wax-coated berries [syn: bayberry,
         candleberry, swamp candleberry, waxberry, Myrica
         pensylvanica]