Great success! That makes three of us setting up camp.
I've also set up a house out on the water and cut a path through one of the nearby sand bars, and I plan to stock the house with lots of boats in case anyone wants to go sailing out on the waters.
A note about harvesting trees: new trees won't grow on the land on their own. So, chopping down the forest leaves you at risk of depleting all of the local wood supply, forcing you to go farther to get more. To augment that loss, also chop down the leaves until you get saplings to drop. Plant the saplings on grass where they can get direct sunlight from above, and a new tree might grow in a few (in-game) days!