Melt butter with oil in a large nonstick skillet over medium-high heat.
Add onion; saut 3 minutes or until onion is tender.
Add garlic and shallot, and cook 1 minute.
Add habanero chile; cook 1 minute. Stir in peaches, and cook 3 minutes.
Add wine; cook 3 minutes. Stir in clam juice, and cook 2 more minutes.
Process peach mixture in a food processor or blender until chunky, stopping to scrape down sides; stir in salt and pepper.
Place peach mixture in a saucepan over medium-high heat. Stir together cornstarch and water, and stir cornstarch mixture into peach mixture. Bring to a boil; boil 1 minute or until thickened, stirring constantly.