I have these all around my yard (I have wood siding on my house and a wood swing set out back) and they are making holes in everything and chasing my little one away from his play areas. So I just wanted to let you what I found on the web regarding these bees.

Prevention is the main approach to managing carpenter bees. If possible, susceptible exterior parts of a building should be constructed out of hardwoods not normally attacked by the bees for nests. On all buildings, fill depressions and cracks in wood surfaces so they are less attractive. Paint or varnish exposed surfaces regularly to reduce weathering. Fill unoccupied holes with steel wool and caulk to prevent their reuse. Wait until after bees have emerged before filling the tunnels. Once filled, paint or varnish the repaired surfaces. Protect rough areas, such as ends of timbers, with wire screening or metal flashing.

Carpenter bees are generally considered beneficial insects because they help pollinate various crop and noncrop plants. Under most conditions they can be successfully controlled using the preventive measures described above. If infestation is high or risk of damage is great, insecticides may be used to augment other methods of control. To do this, treat active nests (those containing eggs, larvae, or pupae) with liquid or dust formulations of insecticides or desiccant dusts. Liquid formulations containing permethrin and cyfluthrin and dusts containing boric acid are currently labeled for use against carpenter bees. Desiccant dusts are inert dusts combined with absorptive powders (diatomaceous earth or boric acid) that destroy insects by abrading their protective outer body cover, causing them to dry out. Desiccant dusts are low in toxicity to people and animals and do not lose their effectiveness over time, so long as they do not get wet. Avoid inhaling these materials, however, because they can cause serious lung irritation.

Hope this helps you out.