Currently, there does not appear to be anything unique on this island. It is simply a reference to the sage Makar from the Wind Waker (according to the Wiki).
There are a few other sites that discuss the island, none of which have found anything interesting:
Besides the enemies found at night here, there is nothing else to the island. According to the Reddit source above, this is also a possible reference to the very first dungeon in the original Zelda game:
I think it's a reference to the first ever Zelda dungeon, Level 1. There's a dead tree, and four piles of bones in place of the surrounding four smaller trees
Here is a screenshot of what they mean:
Image source from linked Reddit above.
There is also a video of someone exploring the island at night. They take out all the enemies, and walk around some, but don't find anything unusual otherwise.