$解:设点P的纵坐标为a,\ $
$∵正方形ABCO的边长为2\sqrt{2},\ $
$∴由勾股定理,$
$得OB=\sqrt{(2\sqrt{2}²)+(2\sqrt {2} )²}=4.$
$∵△PBO的面积恰好等于正方形ABCO的面积,$
$∴\frac{1}{2}×4×|a|=2 \sqrt{2}×2 \sqrt{2},$
$解得a=±4.\ $
$即点P的纵坐标是4或-4,$
$分别代入y=\frac{4}{x},$
$得x=1或-1,$
$\ 即点P的坐标是(1,4)或(-1,-4).$