Jim,
I have 3 good sized slabs of koa and they don't seem oily, like the cocobolo, or bocote blanks I have handled. Funny you asked this question, as I was getting ready to post a very similar topic. I'll do that later. The Koa does burn very easily, when you cut it or sand it, so there may be something there, but then so does cherry. If I were asking the question and DC chimed in, I'd certainly listen to him. After y'all leave here, please stop on by my post. I have an interesting question.
Jim,When in doubt dry it out.