[Objective] The influence of land use changes on carbon storage were studied under the expansion of urbanization in Hainan Island to reveal the spatial-temporal evolution pattern of carbon storage and to predict future development trends in order to provide scientific evidence for optimizing the spatial layout of the national territory and for protecting ecologically sensitive areas. [Methods] Based on land use data from 1980 to 2020, this research showed the spatial-temporal changes of carbon storage for Hannan Island. The data were used with the carbon storage module of the InVEST model. The FLUS model and the InVEST model were coupled to simulate land use and carbon storage changes for Hainan Island in 2030 under three scenarios: the natural development scenario, the rapid development scenario, and the ecological protection scenario. [Results] (1) The main types of land use on Hainan Island were forest land and cultivated land. From 1980 to 2020, the areas of cultivated land, grassland, forest land, and unused land decreased to varying degrees. The area of construction land and water increased over this time period, with the fastest growth rate being 83.4% for construction land. (2) Carbon storage for Hainan Island was generally characterized as “high in the middle and low in the surrounding areas”. Carbon storage changed slightly from 1980 to 2000, with a decrease of about 0.03%. From 2000 to 2020, the urbanization process on Hainan Island accelerated, and the loss of carbon storage also increased. The average annual loss was about 372 t, and the cumulative loss of carbon storage was 7439 t. (3) The prediction results showed that construction land will continue to expand in the future, and carbon storage on Hainan Island in 2030 will decrease under the three scenarios. Under the rapid development scenario, the land use change of construction land was the largest, and carbon storage was the most vulnerable to loss, followed by the natural development scenario. The ecological protection scenario had the smallest change. [Conclusion] Land use planning for Hainan Free Trade Port in the future should focus on the protecting key ecological areas such as the central mountainous areas, strengthening the nature reserves of Hainan Island, optimizing the land use pattern, and strictly controlling the transformation of forest land, cultivated land, and wetlands into construction land. The efficiency of carbon sequestration should be improved, and forest carbon sinks should be increased to achieve regional sustainable development.