Q: 1. How far down should over the island lights be?
2. Was trying to get away with one here...but do I need two?
A: This is a very common question we get asked by people and our contractors on site often ask us how high we want our pendants mounted above island as well.
Your island looks like it is approximately 5'-0" in width. I think that two pendants would be ideal given the length of the island and the style and size/scale of your pendant.
The ideal height of a fixture above an island is 32-36" or 68-72" above the floor since an island height is typically 36".