Place sugar in a small saucepan over medium heat. Cook gently without stirring but shaking occasionally until the sugar has completely melted and turned golden brown. Pour into a round glass baking dish. Spread the caramel evenly over the bottom of the dish, then set aside to cool for 15 minutes before proceeding.
In a bowl, whisk together eggs, coconut cream, condensed milk and pineapple juice until thoroughly combined and smooth. Pour the egg mixture over the caramel in the glass dish. Place a kitchen towel in a large deep baking tray and set the glass dish on the towel. Place the baking tray into the preheated oven and carefully fill with water about halfway up the side of the glass dish.
Bake until a knife inserted in the centre of the creme caramel comes out clean, about 1 hour.
Remove roasting pan from oven and allow the creme caramel to cool in its water bath for about 30 minutes. Refrigerate the creme caramel until thoroughly cold, at least 2 hours. To unmould, run a knife all around the edge to loosen the sides. Place a serving plate on the dish and quickly flip the pan over to remove the creme caramel onto the plate. Spoon any liquid caramel from the dish over the creme caramel and allow the caramel sauce to pool. Sprinkle with shaved coconut and refrigerate until serving.