In this paper, we present a new static and time-dependent MagnetoHydroDynamic (MHD) equilibrium code, TokaMaker, for axisymmetric configurations of magnetized plasmas, based on the well-known Grad-Shafranov equation. This code utilizes finite element methods on an unstructured triangular grid to enable capturing accurate machine geometry and simple mesh generation from engineering-like descriptions of present and future devices. The new code is designed for ease of use without sacrificing capability and speed through a combination of Python, Fortran, and C/C++ components. A detailed description of the numerical methods of the code, including a novel formulation of the boundary conditions for free-boundary equilibria, and validation of the implementation of those methods using both analytic test cases and cross-code validation is shown. Results show expected convergence across tested polynomial degree for analytic and cross-code test cases.