Everyone knows feature is on island, out East (2,6)

I believe the answer is:

no secret

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'everyone knows' is the definition.
I don't know anything about this answer so I cannot tell whether this works.

'feature is on island out east' is the wordplay.
'feature' becomes 'nose' (a facial feature).
'is on island' becomes 'crt' (I can't justify this - if you can you should believe this answer much more).
'out' is an insertion indicator.
'east' becomes 'e' (abbreviation).
'crt' placed around 'e' is 'cret'.
'nose'+'cret'='NO SECRET'

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I've seen this clue in The Guardian.

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