Parboil the pork belly: Bring a pot of water to a boil and add the pork belly in. Cook the pork belly for 5-10 minutes or until the pork belly has stopped releasing impurities. Drain and rinse the pork under cold water.
Pat the pork belly dry and cut it into 1 inch pieces. Set it aside while we make the caramel.
Caramelize the sugar: In a large, heavy-bottomed pot or Dutch oven over low heat, add the granulated sugar. Give the pot a shake to evenly distribute the sugar. Allow the sugar to melt and caramelize without stirring it. It is critical to not stir the sugar while it is melting. Stirring it will disturb the crystallization process and cause it to seize and become clumpy. However, you can tilt the pot to try to spread the caramelized sugar as it melts. The caramel will turn from a light amber to a deep golden brown.
Once the caramel reaches a deep golden brown, cautiously add water and quickly give it a stir with a wooden spatula to break up any large chunks of caramel. Be careful as there may be splattering. Continue stirring until most of the caramel dissolves. It's ok if not all of dissolves.
Add the pork belly pieces and sear on each side in the caramel.
Toss the pork belly with a wooden spatula. Scrape any remaining caramel bits until fully dissolved. Add in the garlic and cook it for 1-2 minutes until softened.
Add in coconut water and fish sauce. Bring to a boil and skim off any remaining impurities that come to the surface (it's ok if some rogue garlic pieces are skimmed off). Reduce to a simmer and cover for 45 minutes to an hour or until the pork is tender.
Add in hard boiled eggs and continue simmering for 15 minutes. Toss occasionally to ensure the eggs absorb the liquid evenly on all sides. Remove from heat and enjoy over rice!