The new and distinct crape myrtle plant named Lagerstroemia ‘Cool Beans’ has a dense, short, compact, broadly rounded habit, is ground hardy to at least USDA zone 6, has deep green foliage edged in rosy red. The flowers arise from shiny, rosy-red buds, are lightly fragrant, large, cover the shrub with their pinkish color. The new plant resists leaf spot and powdery mildew and is useful in the landscape as a specimen, en masse, or as a container plant.