It's a fair way from the hole (3)
I believe the answer is:
tee
'hole' is the definition.
The answer and definition can be both man-made objects as well as being singular nouns.
Maybe there's a link between them I don't understand?
'it's a fair way from the' is the wordplay.
I cannot quite see how this works, but
'way' could be 'e' (Compass direction - East) and 'e' is found in the answer.
'the' could be 't' (the is pronounced as a 't' sound in some dialects) and 't' is present in the answer.
'it' could be 'e' ('e' can mean 'electronic' which is similar to 'IT') and 'e' is located in the answer.
No letters remain.
This explanation may well be incorrect...
Can you help me to learn more?
(Other definitions for tee that I've seen before include "Golf ball support" , "supporter on course" , "Mark" , "'Drive off it, half-laughing (3)'" , "Where one drives from" .)