Toast coconut in a saucepan over medium heat until it turns golden brown. Reserve 1/2 cup for garnish.
To the remaining coconut in the saucepan, add the chicken stock, rice and salt, and bring it to a boil. Once at a boil, reduce the heat to a simmer, place a lid on top and cook for 15 minutes. Let the mixture stand for five minutes off the heat then fluff with a fork.
While the rice is cooking, preheat a large, nonstick skillet over high heat with the canola oil. When the pan is hot, add the shrimp, red bell peppers, chili (or red pepper flakes) and garlic, stirring frequently for about 3-4 minutes.