However, there are a few possibilities for what you're describing:
* Peninsula: This is a piece of land that is connected to a larger landmass but has water on three sides. Think of Florida or Italy.
* Headland: This is a narrow piece of land that juts out into the water, also with water on three sides.
* Isthmus: This is a narrow strip of land that connects two larger landmasses, and often has water on three sides.
So, while it's not technically an island, a peninsula is the closest match to your description.