if im island hopping then it is most likely vfr...so what do i do if i want to cruise at fl220 to get max cruise speed?
I would expect island hopping to be IFR, because there are no landmarks on the water. Or if you can still see landmarks, it is only a short trip, so no high altitude.
If you do not want to do VOR/NDB navigation, just use the GPS. PF3 will not complain

And you can switch back to VFR near your destination by contacting FSS at 122.0 or the local frequency.
By the way, the conquest is a nice bird. Do I assume correctly that you are using Flysimware's C441, too? If yes, maybe my mod to hide the pilot's yoke by default could be interesting for you, see:
http://library.avsim.net/esearch.php?DLID=195691
Edit: Or just configure a higher transition altitude for the region you fly in, in Options #1 -> Trans Alt, and enable "Use Transition Alt for VFR max" on the same page. It is not realistic, but PF3 gives you the option.