Woods, the world's No. 1 golfer and winner of the British Open and PGA Championship this season, considers Furyk the one to beat.
'From May on, Jim's been on one unbelievable run,' said Woods, when asked the favorite in the exclusive four-man event reserved for the year's major winners.
'I'm one-for-one, but Tiger's something like six-for-seven,' said Furyk, a part-time Hawaii resident who's undefeated at Poipu, winning in 2003. 'Am I the favorite? I'd have to say, with the best player in the world, no.'
Woods has won a record six straight times in seven tries. He won in 2005, '02, '01, '00, 1999 and '98. He was runner-up to Ernie Els in '97.
Woods and Furyk, who finished a career-best second on the money list, are joined by U.S Open champion Geoff Ogilvy and 2003 Masters winners Mike Weir.
With Woods claiming two majors this year, Furyk earned his second invite to Kauai based on his performance -- two wins and a tour-leading 11 top-five finishes. Weir, the 2003 Masters winner, replaced Phil Mickelson.
Furyk said the players enjoy 'goofing around,' lounging by the pool and the relaxed island atmosphere.
'You probably won't see anyone killing themselves at the range or anything like that, but it doesn't mean when you tee it up you don't want to play well,' he said.
Ogilvy is the only player making his Grand Slam debut.
'This is my first time here, but you only have to beat three guys,' Ogilvy said.
But one of those guys is named Tiger.
Championship banners featuring Woods wearing a floral lei and a wide grin line the walkway from the clubhouse to the first tee at the oceanside course.
'Over the years, I've always felt comfortable playing here,' Woods said. 'I don't know why that is. I seemed to have shot some pretty low scores around here.'
Last year, he closed with an 8-under 64 to win by seven strokes over Mickelson, despite losing 6 pounds because of a stomach virus and dropping out of the pro-am.
Woods' two major wins this year gives him 12 in his career, which is second only to Jack Nicklaus' 18. He also has a string of six straight tour wins heading into 2007.
But the year was marred by the death of his father, Earl, who died of cancer May 3.
Woods simply described his year as 'a loss.'
Weir is the only member of the foursome without a tour victory this season. The last winless player to play in the Grand Slam was Davis Love III in 2002.
'In 2003, I came over here and had a really good time and didn't take it really seriously,' the Canadian said. 'I'm still having fun over here, but I want to get two good rounds under my belt and kind of go in with a good mind-set for next year.'
Weir said he's not looking for payback against Ogilvy.
Ogilvy won the Accenture Match Play Championship after rallying back from 4-down with four to play in the third round against Weir.
They faced off in a playoff with Ogilvy winning with an eagle-3 on the 21st hole.
It was the win at Winged Foot, however, that made Ogilvy a hero in his native Australia and changed his life.
'I can't fly under the radar at a golf tournament like I used to do,' he said. 'I used to be able to turn out for a golf tournament and no one would notice I was there.'
All four players will go home a little richer. The winner of the Grand Slam will take home $500,000, with the fourth-place finisher earning $200,000.
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