I played Nanea two years ago. I was actually thinking about Nanea this morning playing Red Sky Ranch (Fazio) for the first time because both courses sit on similar mounainside terrain. Nanea, which I referred to at the time as "brawny, fun and scenic," runs rings around Red Sky Fazio. Nanea has tons of width and playing options and uses the terrain much better than Red Sky Fazio; also the greens are more contoured and the bunkering more strategic and interesting (both the fairway and greenside bunkering @ Red Sky Fazio are boringly repetitive). As mentioned the par 5s at Nanea are outstanding; the par 5 6th with a skyline green was one of the most interesting par 5s I've played anywhere due to the bunkering and fairway contouring that ended with the skyline green.
Matt Peterson, the 14th hole looks much different from the ground than from the air--I'm not sure I even knew the right side of the lava was fairway and it wasn't in play for me (or my caddy-playing partner who was a good player) so maybe it's eye candy.
I love Kapalua Plantation and have always thought it was the best course in Hawaii; Nanea is really good--if I had a chance to play Nanea more than 18 holes it might give Kapalua a nudge for first place.