Tenderise the paua on both sides with a fork then season with salt and pepper. Dust with flour then fry in butter for 8 minutes per side. Set in the oven to keep warm.
In a saucepan combine pineapple juice with 1 dessertspoon flour. Season lightly with salt and pepper then mix well, adding 2 teaspoons warm water, as needed. Heat slowly, stirring continually, until thickened.
Serve sauce over the paua steaks and garnish with pineapple rings.