Probably from 'Hooghley' as in the river in Calcutta where the wind blows like the mistralle in the dry season - northerly hot winds off the plains; and in the wet season monsoons blow in from the south and funnel up the estuary in a quite dramatic manner.
A quick Google and Wikipedia shows French sea states with mention of "houles" which they translate as freaks (edit - looked it up and it is also ofteb translated as swells) so houle may have come from freak waves or swells.