If the Nazis win, Israel can only exist if the British keep Egypt and Syria and Lebanon are not bases for the Nazis. If there is no active war, then shipping other than Israeli flagged should be able to transit the Med, Israeli flagged ships - not sure. Certainly the Nazis will do everything they can to make life hell for the Israelis - I could see U-boats having open season on any Israeli flagged vessel for example.
The big point is, how would Israel come in to existence. The British were never in favor of it, and frankly if the Nazis win there won't be any Jewish survivors in Europe to emigrate to the new state. Any Jews in Europe in countries that haven't started shipping them to camps yet will want to get to the western hemisphere, as far away from the Nazis as possible. The Sephardic Jews in the Arab countries were only able to get there after 1948 (mostly) when Israel expended a good deal of effort to get them there - most were in no position to even pat travel costs.
IMHO in a Nazi victory where they have from the Atlantic to the Urals, various allied nations in Central Europe/Balkans, even if North Africa is Nazi free cannot see Israel happening.