Fabulous part of Honolulu Fred nowadays seen around (9)
I believe the answer is:
wonderful
'fabulous' is the definition.
(thesaurus)
'part of honolulu fred nowadays seen around' is the wordplay.
'part of' says the answer is hidden in the clue.
'seen around' is a reversal indicator.
'lufrednow' is hidden in the letters of 'honolulu fred nowadays'.
'lufrednow' written backwards gives 'WONDERFUL'.
(Other definitions for wonderful that I've seen before include "Extraordinary" , "Fab" , "Superb" , "Marvellous" , "Remarkably good" .)