The tree is a Sitka spruce, but there is no official name. So people have been calling it by various names such as “the tree of life” and “the runaway tree”. Underneath the tree, is a cave like hollow that some people call “the tree root cave”. I couldn’t find how old the tree is or for how long it is hanging there for dear life.
The cave under the tree was caused by a small stream that empties into the ocean and has been washing the soil out from underneath it. I gather that this happened many decades ago, as can be inferred from this passage I read at lubin-king.com, written in 2005:
As we approached the tree, a couple that was walking towards the bluff commented that they had been coming to this campground for 17 years and each year they had been expecting the tree to fall, but it hadn’t happened yet.