No, while the PERCEPTIONS were quite real---remember, I went to school at UCSB, with its pillboxes aimed toward an anticipated Japanese invasion force---the Japanese couldn't even invade Hawaii. They couldn't sustain their own fleet off Midway for long. The Aussies were scared to death, but there was absolutely no hope of Japan staging any serious invasion of Australia. It took virtually every ship in the Navy to assault Midway, and they lost there.
If you want a slightly different, if fictional, take on this, I'd be happy to send you my yet-unpublished "counter-history" novel, "Midway."