A little way out, but delightful (5)
I believe the answer is:
sweet
'delightful' is the definition.
(both can mean pleasant or nice)
'a little way out' is the wordplay.
'a little' becomes 'wee' (I've seen this before).
'way' becomes 'st' (abbreviation for street).
'out' indicates putting letters inside.
'wee' inserted into 'st' is 'SWEET'.
'but' acts as a link.
(Other definitions for sweet that I've seen before include "Confection" , "Cute" , "Ewes cycle it (anag) -- herb (myrrh)" , "Amiable" , "(see 15 across) A Chinese sauce" .)