Man perhaps lives hollow life (4)
I believe the answer is:
isle
'man perhaps' is the definition.
(Isle of Man is an example)
'lives hollow life' is the wordplay.
'lives' becomes 'is' ('be' can be a synonym of 'live').
'hollow' means to remove the middle letters (the word is hollowed out).
'life' with its centre removed is 'le'.
'is'+'le'='ISLE'
(Other definitions for isle that I've seen before include "''There is an ..., a bonny ...'' (anthem of Shannon RFC)" , "Dogs, perhaps" , "Land cut off by water" , "'There is an ..., a bonny ...' (rugby anthem in the South)" , "one ringed in the main?" .)