From a practical point of view, it’s more expensive to depose the king than to keep him. Hopefully it will be done before they swap all regal paraphernalia with the new initials CIIIRNo guessing what my vote will be .
"Bahamas is the newest member of the Commonwealth to declare its intention to hold a republic referendum and depose King Charles III as head of state."
https://www.commonwealthunion.com/the-bahamas-becomes-latest-commonwealth-country/