- Ireland /ˈaɪə.lənd/
There is little difference phonetically, so there will be even less difference in speech. I guess the first syllable of 'Ireland' is a triphthong, so will sound longer than the diphthong in 'island'.
In my own accent the difference is much greater:
Island - /'eɪlənd/
Ireland - /'aɪjərlənd/
But I would have trouble distinguishing 'island' from 'Ireland' in speech with a standard English English accent.