I fished Neah in early July with good results for coho and kings near Waddah but the fishing in the straits was not so good from July 27th to Aug 5th. During that time, I pretty much had to go outside to consistently find coho. However, as has been mentioned above, sooner or later the coho have to find their way inside. When they do, here's my 4 favorite places to find them.
#1 - right in front of Waddah - A nice tide line forms right off the point there and when the coho are in thick, you can usually limit out without going too far.
#2 - There's a shelf that comes off of kydikabbit point - look at a map and you'll see an underwater point that extends from kydikabbit pt to the WNW. A good tidelin forms out there also and I've found the NW edge around 350-450' to be good.
#3 - 400-600' of water (in the east bound shipping lane due north of Waddah and the break water to Neah Bay.
#4 - Just north of the red buoy by Duncan rocks. The water can get a little rough out there though.
Prior to leaving check
http://www.wetsand.com/swellwatch/swellwatch.asp?CatId=292 for predictions of the swells. When the swells are low, it's possible to go outside even in a smaller boat but don't even try it if the swells are bigger than 4' or short period. In a 17' boat, I'd stay inside on all but the very best days (probably 9 out of 10 days). Also, FOG can roll in at any time, any place out there. If you don't have a GPS, don't go far from Waddah and stay within sight of shore. IMHO - going out anywhere without at least a handheld GPS is foolish especially with the prices of GPS units these days. Also, check the tides for the days you are planning to go. If the fishing gets good and the fog rolls in, it's VERY easy to get pulled out several miles on an outgoing tide without even realizing it. A friend of mine made that mistake last year at Neah in a small boat and wound up in a very bad situation that he was lucky to get out of. Here's a post I made last year on another site that describes the situation -
http://www.c-brats.com/viewtopic.php?t=2220&highlight=neah It serves as a good example of what not to do.