There are common forms for certains words of course, but no lexicalisation. In Toki Pona, you're not adding words, set phrases, to the language's lexicon. So there are no compound words that would be set in stone and things can and do change depending on the situation. Let's take an example: coffee. The word "telo" is some form liquid or water, so coffee could simply be just telo (if you're in context where it's clear), but you may just add it's the dark/black liquid ("telo pimeja"), or the strong hot drink ("telo wawa seli"), or the liquid of no sleep ("telo pi lape ala"), or there are many other possibilities depending on what's the important aspect you emphasize and how brief or precise you want/need to be (if you need a lot of precision, you'll end up doing several sentences, but you'll get there).