There exists an island named "Java".

The statement "there exists an island named Java" is true because Java is indeed the name of an island in Indonesia. Located in Southeast Asia, Java is the world's most populous island and is renowned for its natural beauty, rich cultural heritage, and vibrant cities such as Jakarta and Yogyakarta. Additionally, Java is home to numerous volcanoes, including the highly active Mount Merapi, and is known for its diverse ecosystems and agricultural activities. Therefore, the existence of Java as an island is a well-known and verified fact.