Hi Vaneiri,
It is possible, but not recommended as the hosted feature layer will be very big (use a lot of space / credits), and the layer will not be very responsive and will draw slowly when you pan and zoom on the map.
I work with parcels all the time and my data covers the whole country of New Zealand.
The first questions I as myself before publishing online:
- Is the data already available online (from ArcGIS Online or a server)?
- What information needs to be accessed - will the users need to query/edit the data, or simply view it?