Design Option No. 2. This one would be the easiest/cheapest option as it requires less modification to your original electrical layout. But the island would be a fair bit shorter and a bit narrower to accommodate the fridge and oven door openings. Microwave would go in the island somewhere.
You could omit the corner pantry and just leave it all counter space and cabinets... and make a pantry from the alcove, the same as in design number 1.
The opening into the kitchen from the entrance way may be a little off - I just guessed at that. But the counter beside the stove extends to exactly where your kitchen ends by the door now. So the kitchen is all to proper scale.