What "Calypso Island" is actually marketing is a 1958 B-movie titled "Island Women" (alt. title: "Calypso Island.")

"Calypso Island," from Calypso Island, w&m Alice Simms. © Planetary Music Publishing Corp., 1 May 1957.
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Tin Pan Alley and old exploitation movie/song(s) are easy for scholars to deride (or ignore.) On the other hand:

Leslie Scott
Irene Williams Matney
(Americans from Porgy & Bess production)

Becky Chipman
John "Chippie" Chipman
Maurine "Bahama Mama" Duvalier
"Blind Blake" Higgs
Vincent Martin
Harold McNair
George Symonette
Berkeley "Peanuts" Taylor
Naomi "Jungle Queen" Taylor
David Kemp
Johnny Kemp Sr.

Like it or don't, with music by "frequent winter resident" Simms and the ever invisible native Charlie Lofthouse, the film captured some of the best goombay music & dance 1950s Nassau had to offer. The later soundtrack/score covers detailed in "Funky Nassau" and the even more popular title track were done as lounge standards ("show tunes") in the same vein as Irving Burgie's "Island in the Sun." Art reflecting art as opposed to "real" life.

Imo: If you have fondness for the "Bahama Mama," "Chippie" and "Jungle Queen" years it's a guilty pleasure during the muscial bits (only.) If you're on the Rommen-Sheller side of the aisle give it a miss (and visit the region during spring break at your own peril.)