Mark Hopwood has created a great post on installing Magento stand-alone on OS X. I know there have been several posts in the Magento forums with questions on this. Just remember if you are installing Magento on OS X with Zend Server, you need to open your TCP/IP sockets in the mysql.conf file so that Mysql can be connected to using localhost or the local IP address.
Installing Magento on OS X
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You could also just use a socket connection; /usr/local/zend/mysql/tmp/mysql.sock