I would say it's one of the rarer island items. I'd look and see if you could purchase one from the Re-Tail or TBT boards before spending a lot of time chasing it.
Edit: oh wait, you have it in your island? It would be worth doing tours to get one. Definitely.
Oh man! I gave up, it's late and I'm way too tired, I'm far from having enough medals, and to be honest I don't really like the look of it and don't see myself using it. If it was the cabana wallpaper or kitchen island though would be a different matter.