This one is interesting. I remember seeing the original School's Out on the shelves at Blockbuster Video. I rented it and almost immediately upon pressing play realized it was a German movie, dubbed in English. Well, there's a sequel. This is 2001's Dead Island: Schools Out 2 (aka School's Out II: Island of Fear).
BREAKDOWN:
From IMDb:
Nina and friends are stalked by a masked killer while vacationing on an island.
MY THOUGHTS:
Haven't seen it and can't find it; I just know it exists! UPDATE: the movie is available on YouTube.
TRAILER: