Hi @gbreed ,
Has it ever worked properly?
Have you connected the 240V AC power feed correctly? (Do you need to have 2 x 120V AC where you are to achieve 240V AC?)
It may be a faulty temperature sensor but this would have to be checked.
Since you say that it is “new”, according to the warranty (scroll down and click on the Warranty link - right side of page) there is a 2 year warranty on the unit. I suggest that you contact the manufacturer’s customer service section about a warranty repair and don’t void the warranty by trying to fix it yourself. That’s what warranties are for ;-)