Hey howdy there... nice place.
Neato volcano. Maybe we'll get a new island out of the deal? Might take a while, but I did some googling around NOAA and found that there just happens to be a seamount just about exactly where they say this volcano is. If this is part of that, then there's already a head start toward a new island.
Yah know... if a new island pops up, and if it is over 200 miles offshore... then probably anybody who gets there first and plants a flag ought to be able to claim it for themselves. Finders keepers.
Wouldn't wanna set foot too early though. Hot feet. Gotta time it just right...