Beenakia dacostae was the first species of this genus to be discovered, which is named after the town of Beenak in Victoria, Australia. This species is found normaly on decaying tree fern trunks.

Small pale cap-and‑stem fungus with a toothed underside of short, soft spines. Whitish to cream, fragile, and found on soil or litter in native forest. A distinctive but rarely recorded NZ member of the Gomphaceae.

Fruitbody: Small to medium-sized cap-and-stem fungus, typically 20-50 mm tall. Cap whitish to pale cream, sometimes faintly buff or greyish with age. Surface smooth to finely velvety, often slightly uneven or lobed. Margin rounded, occasionally wavy.
Hymenophore: Underside covered in short, soft, downward-pointing spines (teeth), usually 1-3 mm long. Spines concolorous with the cap or slightly paler. This toothed hymenophore is the key diagnostic feature of the genus.
Stipe: Slender, whitish to pale buff, smooth, sometimes slightly translucent near the apex. Often central, occasionally slightly off-centre. Flesh soft, fragile, whitish.