O'Keefe, who returned early from Australia's ill-fated tour of Sri Lanka with a hamstring injury, allegedly abused police, security staff and managers at The Steyne Hotel while intoxicated, reports said.
O'Keefe was charged with a breach of CA's Code of Behaviour -- conduct unbecoming of a player -- and accepted a fine of AUD 10,000.
He was also told to undergo counselling and education as part of the sanctions, CA said.
"We take a zero-tolerance approach to this type of behaviour from players at any level in Australian cricket," Cricket Australia executive general manager Pat Howard said in a statement.
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O'Keefe apologised for his actions and said: "I know I failed to uphold the high standards expected of a NSW (New South Wales state) and Australian cricketer and apologise to all concerned.