In a realistic way, it could work.
But it will need a strong and loved leader, some rules and other basic society stuff.
Without this it will not last long if the number of the island population rise.
It can be sad to hear for some but there isn't really a way to escape society in a "large number".
There will always be rules and society laws that will follow, otherwise it would be a sort of chaos, somekind of anarchy and if the goal is to leave peaceful on a remote island, anarchy isn't a option.
But Utopia is an option if the people managing the island knows what they are doing and that the people follow the rules over there.