Party with common sense exhibiting hunger (8)
I believe the answer is:
ravenous
'exhibiting hunger' is the definition.
'party with common sense' is the wordplay.
'party' becomes 'rave' (type of dance party).
'with' is a charade indicator (letters next to each other).
'common sense' becomes 'nous' (nous is a kind of common sense).
'rave'+'nous'='RAVENOUS'
(Other definitions for ravenous that I've seen before include "starved?" , "Voracious" , "Voraciously hungry" , "A nervous way to be very hungry" , "Wolfish" .)