It is possible, but the loading times would be insanely low I mean like half an hour loading times to get to and from one island.
And think of the download.
I did find a new way of loading stuff that would drop of the loading times quite a bit which I could share through PM if you so wanted, but still the download would be gigantic.
(Please note I just thought of this late last night, so I wasn't really thinking about it when I posted my previous one.)