It’s fairly straight forward but the long and short is this: 1) you create a trust instrument that explains the powers and obligations of the beneficiaries and the trustee, and names the beneficiaries and identifies the property to be deposited in trust. 2) the property is then deeded to the trustee “as trustee”; 3) the trustee deed is recorded but the trust instrument is not. Then the only public record of the ownership of the property is that it’s held in trust by whoever is the trustee (can sometimes be an entity). This is high level summary but that’s more or less how it works. The beneficiary is the “real” owner of the property but legal and equitable title pass to the trustee and in return the beneficial owner gets a “personal property” interest in the trust and usually the power to tell the trustee what to do with respect to the property, sell it, whatever, etc etc
Discussion
Does this work for private islands in the Keys?
If its a Florida Key then I don't see why it wouldn't unless there's something special about owning an island that is regulated in a way that undermines the purposes of the land trust, but I'm not researched on that issue
I should add, the reason why i say its barely a trust is because typically trusts require the beneficiaries to lose a ton of control over the trust property which is delegated to the trustee, in Land Trusts this is basically a legal illusion that obscures the true ownership of the property. I have no idea why this privacy obfuscation is legal let a lone enshrined in law, but we have it so you should use it if it suits your purposes