This is a hand is from a weekly single table home tournament.1st buy in is for 2000 chips (100BBs for first level). Blinds don’t go up for first 1 hr 45min after that, blinds start going up every 15 minutes. There are no antes. If felted, 2000 chip rebuys are allowed until end of 4th level. Generally, there are only 3 to 5 rebuys in a night for the whole table.
8 Players. Blinds are 40/80 (3rd Blind Level: Rebuys end in less than 30 minutes)
Hero in BB with 30BBs
Folds to MP1 who raises to 3BBs (Stack size roughly 22BBs)
HJ (55BBs), CO (27BBs), Button (24BBs) and SB (23BBs) all call
Pot Size = 16 BBs
I look down at AKo.
My thought process: I can’t call. AKo is not a speculative hand and won’t play well 6 ways so it’s raise or fold. I never really considered folding. I should be ahead of MP1. He is aggressive. I put his first in range at 22+ and all Broadways. With no 3 bets, I think I'm ahead of all callers ranges as well. With all the dead money in the pot, my raise sizing would be roughly 21BBs. This represents 66% of my stack so I decided to maximize fold equity and shove.
Is this the correct decision? If yes, is the process that got me to that decision correct?