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Island energy systems are becoming an important part of energy transformation due to the growing needs for the penetration of renewable energy. Among the possible systems, a combination of different energy generation technologies is a viable option for local users, as long as energy storage is implemented. The presented paper describes an energy-economic assessment of an island system with a photovoltaic field, small wind turbine, wood chip gasifier, battery, and hydrogen circuit with electrolyzer and fuel cell. The system is designed to satisfy the electrical energy demand of a tourist facility in two European localizations. The operation of the system is developed and dynamically simulated in the Transient System Simulation (TRNSYS) environment, taking into account realistic user demand. The results show that in Gdansk, Poland, it is possible to satisfy 99% of user demand with renewable energy sources with excess energy equal to 31%, while in Agkistro, Greece, a similar result is possible with 43% of excess energy. Despite the high initial costs, it is possible to obtain Simple Pay Back periods of 12.5 and 22.5 years for Gdansk and Agkistro, respectively. This result points out that under a high share of renewables in the energy demand of the user, the profitability of the system is highly affected by the local cost of energy vectors. The achieved results show that the system is robust in providing energy to the users and that future development may lead to an operation based fully on renewables.