The common practice is to keep nouns separate unless they are glossed as a single word.  That way new students don't try to look them up.

To me {bIQ puH} sounds more like Atlantis after it went under the sea, or a theme park of some sort! :D

Both continent and island are words that have been asked for, so soon these suggestions may be overrided by offical canon anyway. :D

qurgh