200E: Lazy man with monkey who does what he asks

I’m looking fora book that was written before 1989. This is the year I found it but I’m pretty sure it wasn’t a new story.
The basic message is, don’t be so lazy to wish all your tasks off on someone/something else. It is very much a cautionary tail.
It’s told through a tale about a guy that comes across a magical creature (monkey-like I think). The creature is at the mans beck-and-call to do any task he asks of it. He ask more and more, gets lazier and lazier until one day the man asks the creature to breath for him. Essentially the man ceases to exist.
I believe the story takes place on an island. I know most of the illustrations of the man picture him in a hammock. I also think it won a literary medal. As far as the shape of the book it was longer than it was tall.

The school librarian read it to the class when I was in 2nd/3rd grade.The story was was impactful for me as a child but I cant remember the title. I’ve been looking for it for years. Please help me find it.

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