Instagram account not used or not available

I stumbled upon an Instagram username I was interested in. It turns out the username isn’t available when I try to create a new account with it (not surprising), but when I search for the profile, nothing appears, I can’t find it at all.
I also tried searching by URL (http://www.instagram.com/{username}), but it just displays a “page not available, it may have been deleted” message. Does anyone know what this means?

That means the account with that username was banned or the owner probably temporarily deactivated the account. Instagram does not release banned usernames. At least not immediately. Maybe after a few years but no defined policy for that.