This is my transcription from several recordings (which are remarkably consistent):


A LITTLE WHITE LIGHTHOUSE
Words by Edgar Leslie, music by Joe Burke, ©1937.

There’s a little white lighthouse by a blue lagoon
And it twinkles like a love light when clouds hide the moon.
There’s a little white lighthouse where the night birds croon.
We can stroll beside the seaside by love’s lagoon,
Dreaming in the gloaming,
Where the sea is foaming,
Just a happy pair with hearts in tune;
And the little white lighthouse will be twinkling soon
As we sail away to Love Land on our honeymoon.

- - -
The Internet Archive has these recordings:
Bert Block and his Bell Music, with vocal refrain by Bill Johnson, on Vocalion 3958, 1938.
Dick Robertson and His Orchestra, with vocal refrain by Dick Robertson, on Decca 1585 B, 1937.
Music in the Russ Morgan Manner, with vocal refrain by Russ Morgan, on Brunswick 8047, 1938.
Rudy Vallee and His Connecticut Yankees, with vocal refrain by Rudy Vallee, on Bluebird B-7331-B, 1937.
The Melody Masters, with vocal refrain by Rudy Vallee, on Regal Zonophone G23630, no date.
Tommy Dorsey and his Orchestra, with vocal refrain by Jack Leonard, on Victor 25733-A, 1937.

YouTube also has:
Maurice Winnick and His Sweet Music, 1938.