Absolutely, and many riders do! However, there are factors that are critically important to understand before you begin the process, detailed below.
Changing your grip tape is fairly simple, but you must be carful not to remove/damage the sensor located under the front pad while removing the old grip tape. These sensors exist on all models of Onewheel, and is arguably the most important component of the entire device. As such, tampering with it introduces risks you should understand before you begin.
The sensor is under a thick piece of plastic contouring to the shape of the front footpad. The grip tape adheres directly to this plastic piece. Many riders accidentally peel up the plastic piece along with the grip tape which commonly causes issues with the sensor, even if reapplied. To make the process of separating the grip tape from the sensor, heat is your friend. You can let the footpad heat up slowly in the sun, or use a hair dryer. This will loosen the adhesive, allowing you to slowly and carefully peel the grip tape away.
Before applying new grip tape, remove any left over adhesive with some Isopropyl alcohol and a microfiber cloth or paper towel. Ensure the surface is completely dry as well. While applying, ensure there are no air bubbles captured under the grip tape, as this can cause issues with your sensors engaging properly.