Tales of the Outer Islands

A fantasy novel set in the real world?
Or
A realistic novel set in a world of fantasy?
Seeking to verify an old legend about an 'ageless immortal being', living anonymously in their city, a disparate group of young dreamers comes of age as their inner beliefs, fantasies and aspirations collide with reality in the Cumberland Archipelago, a mysterious group of islands that bear an uncanny resemblance to Tasmania in the early 1970s.