I'm in the process of building the teleport system and wanted to let you all know where it is headed.
You can teleport back to your town once you have placed a Teleport Platform. I was playing around with the idea of teleporting into the wilderness, but I think teleporting from town, to someplace on the island, and then teleporting right back to town would create a pretty large balance issue. You can only place one Teleport Platform.
A Teleport Platform has 6 charges per day. To use a Teleport Platform you will need to craft teleport crystals.
The higher the resource used to craft the teleport crystal, the less charges it uses. So a Jade teleport crystal uses all 6 charges, Gold uses 3, Diamond uses 2, and Blood Stone uses 1 charge. If you attempt to use a teleport crystal that uses more charges than your Teleport Platform currently has you will get a notification letting you know how many charges it has left.
You will be able to place teleport crystals in your hotbar and use them the same way you use a potion. Using a teleport crystal will take about three seconds to teleport you to the Teleport Platform and will consume the crystal. During this time, you cannot move, so it's dangerous to use these near monsters! You also cannot use a teleport crystal when inside of a dungeon, cave, or other underground structure.
Jade and Gold Teleport crystals will be craftable at the Stonemason and you'll need a Stonemason and a Carpenter to craft the Teleport Platform. Diamond and Blood Stone teleport crystals are crafted at the Mage Tower. Teleport crystals require some ore plus some alchemy ingredients. I'm in the process of balancing these costs.