Does anyone have any suggestions on how I should tackle my tropical hibiscus and turn it into a bonsai

I have no experience with Hibiscus, but I would not 'tackle it'. It's a nice plant as it is now.
The leaves are too large for it to become a convincing bonsai, IMHO.

Those appear to be two plants. If so, try to separate them, so you'll have two plants, with both 1 trunk, instead of one plant with two trunks next to each other. The placement of the trunks (millimeters apart) looks a little weird.
Then cut it back and build it like a nice broom. You already got the bones. Those leaves can be reduced in size.

Perhaps you might be interested in reading this:

www.hibiscusworld.com/BeersBook/14-QandA.htm

I think it would be a very helpful link to "tackle" your hibiscus.

Alain

Thank you for your help I think I'm going to give that a try should I wait til Spring?

Auk wrote:

I have no experience with Hibiscus, but I would not 'tackle it'. It's a nice plant as it is now.
The leaves are too large for it to become a convincing bonsai, IMHO.

I don't have any experience in reducing leaf size. Just found this short video on the topic: youtube video
Any suggestions/experience - does this kind of approach could do the job of reducing leaf size?

This plant is not even near a stage where leaf reduction can be considered.

Unless you live in the tropics,. this plant will never be large enough for the leaf size. It does not reduce drastically.

Just enjoy it as it is, and start with a plant with more potential. Bonsai is not a rescue mission, and it is not about 'bonsaiing' everything woody.