Is getting the f-35 wise? Its very high cost, and has had many issues with its software, systems, and maintenance. In my opinion does not give many advantages.
I'd say it would be better to look at other more tested aircraft such as the eurofighter, which is not necessarily stealthy aircraft but they are very capable. Perhaps even buy more f-16s, since you can buy like 5 for the same cost as a single f-35, and they are still a very capable aircraft however neighboring countries like Egypt, and Jordan also operate a large number of them.
Another idea (and this may be stretch), is to lobby hard for the US to open up the f-22 for export to Israel, they may not be welcoming to the idea now, but years down the line they may consider it.