What is your best tips and tricks for getting an amazing amount of bells for catching bugs on the island? I keep seeing people get about $400k and I'm lucky if I can get $200k.
You need to know what to catch, where to catch it and when. You need to set up the coconut trees so you can effectively patrol them. To get 400,000 don't catch anything under 3000. Leave the emperor butterflies, dynastid beetles and such.
And you need to try and avoid missing as much as you can.
Don't have many trees. You pretty much want a bare island. Swat away fruit beetles and other low-end beetles. If things slow down, go into island shop and go back out. Sometimes fishing or diving increases beetle population. I've noticed, just a personal observation, that the time to catch is earlier in the evening than in the summer, and the quantity seems to have decreased as the cooler weather sets in.
I leave one middle tree otherwise I'd never get the Rainbow Stag and the Scarab. Most of the time I swat away the stupid Dynastids and Fruit Beetles, tho.
I have only 2 palm trees and they are far apart. Still, right now the spawning rate is very slow as Blizzard observed.
When I go to the island, I hunt for only the stags on the palm trees and sharks. No other fish.
I also tend to stay away from miyama stags (1,000 bells), fruit beetles (100 bells) and horned dynastids (1,350 bells). They can be found in the center of the island on fruit/regular trees. Occasionally, I'll catch an emperor butterfly because they're worth 2,500 bells but only to fill in gaps if I get tired.