The Neat Cleat offers what you've been asking for, a retractable cleat with a thin profile that installs easily in narrow gunwales.
Beautiful, strong and durable, each stanchion is a 7/8" rod of solid enhanced #316 Stainless Steel alloy
The Friction springs holds the cleat up at any position and makes sure it stays up when pulled up
Over 500,000 in use World Wide
Backed by a Lifetime Warranty against corrosion
Has a neat, continuous contour to prevent snags and stubbed toes
Installation is simple and quick, it can cut your labor cost! Just drill twice with an appropriate hole saw. Drainage receptacles (included) press-fit onto the threaded studs to capture moisture and send it to the bilge. The receptacle outlet is sized for standard 1/4" pilot tubing (not included) so you can use parts from existing inventory.