The 20-year-old striker has really come to the fore this season for Las Palmas having started off the campaign in the side's third team.
Guayre has been promoted to the first team due to injuries and he has taken his chance with a number of outstanding performances, which have attracted the interest of several big clubs.
His superb form has also saw him earn a call-up to the Spanish Under-21 squad.
Barcelona, Atletico Madrid and Mallorca have all shown an interest in the player but the only official offer has come from ambitious Villarreal, who have offered 800 million pesetas (£3 million) for his services.
Las Palmas would probably be looking for more money for their star striker, as his release clause is 1000 million pesetas (£3.7 million).
However, it has been well documented that Las Palmas are in financial difficulty and therefore may be forced to sell in order to balance the books.
It has also been rumoured that Villarreal may offer defender Quique Medina as well as cash, in order to snap-up the forward before any other team makes an offer.
Villarreal have already signed two players for next term as they bid to improve on last season's showing.
Victor Munoz's team have agreed deals for Espanyol's Constantin Galca and Salamanca's Quique Martin, who both join on free transfers, and Munoz now hopes to make Guayre his third signing.
