Crossword Genius

US island escape? Initially wonderful time there! (3,4)

Ross

I believe the answer is:

key west

I'm a little stuck... Click here to teach me more about this clue!

'us island escape? initially wonderful time there' is the definition.
I can't judge whether this defines the answer.

'island escape? initially wonderful time there' is the wordplay.
I cannot quite see how this works, but
'island' could be 'key' (I've seen this before) and 'key' is located in the answer.
'time' could be 'est' (EST is an example) and 'est' is found in the answer.
A single letter 'w' remains which might be clued in a way I don't see.
This explanation may well be incorrect...

Can you help me to learn more?

(Other definitions for key west that I've seen before include "City in Florida" , "US town" .)

I've seen this clue in The Times.
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