should I restart my island?

I've been wanting to restart my island for over a year now but I'm afraid I'll regret it. I want to restart due to multiple mistakes I made when starting to game. For example I messed up my name and added other users for more storage. But then again I have items I don't want to get rid of. And a few villagers. I've used treasure islands so I can always use them again! I wanna do it really badly but I'm not fully sure. Any advice?