Steve,
I think your asking about what i know as the Indian Bean Tree, and if it's the wood I think it is, it's very light (not dense). I go along with an oil finish, but to stop it soaking in as fast as you can apply it, I'd defiantly look to seal it first.
A sanding sealer or shellac sealer would be my choice. To get the shine I think you want, many light coats of danish oil, cut back with grey webrax between coats. And allow it to fully polymerize before giving it a good buffing.