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Island Beaner 

A racial slur directed at Cuban Immigrants, most popular in the state of Florida. The term utilizes another racial slur Beaner. Which is used because of the Cuban immigrant's natural brown color, and because they often migrate illegally to the US. And Island because Cuba is a island.
Mike (cuban): What's up you cracker ass honkey?
T-Money (white): Did you bring me a cigar?
Mike (Cuban): Screw you!
T-Money (white): Why don't you swim back home you damn Island Beaner!
Island Beaner by SquigmanFraud January 15, 2011
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Island Beater 

A car in Hawaii that you get for cheap,most likely due to your other car payment being too high or not being able to afford gas on your “expensive car”.
“Lunsford, how much did you buy that island beater for?”

“I bought this hooptie for $200.”
Island Beater by YoUSAHOE November 26, 2019