Creating Vietnamese Caramelized Catfish (Ca Kho To) is simple if you follow these steps:

1. Prepare the Catfish: Clean and cut the catfish into 2-3 inch pieces. Pat them dry with paper towels.
2. Make the Caramel Sauce: In a medium saucepan over medium heat, add the sugar. Stir gently until the sugar melts and turns a golden brown color. Watch closely to prevent burning. Remove from heat.
3. Add Fish Sauce: Carefully add the fish sauce and soy sauce to the caramel, stirring to combine. This will sizzle and bubble up, so be cautious.
4. Sauté Aromatics: In another large pot, heat vegetable oil over medium heat. Add minced garlic, shallots, and red chilies, sautéing until fragrant.
5. Combine Ingredients: Add the catfish pieces to the pot. Pour the caramel sauce over the fish, ensuring they are well coated.
6. Simmer: Add black pepper and coconut water to the pot. Bring to a gentle boil, then reduce the heat and let it simmer for about 20-25 minutes until the fish is cooked through and the sauce thickens slightly.
7. Check for Doneness: Ensure the catfish is cooked and tender. If the sauce seems too thin, uncover and simmer for an additional 5-10 minutes.
8. Plate the Dish: Once done, carefully transfer the catfish to a serving dish, spooning the caramel sauce over the top.
9. Garnish: Sprinkle with fresh cilantro for a pop of color and added flavor.
10. Serve with Rice: Serve hot with freshly steamed jasmine rice to soak up the delicious sauce.

By following these steps, you can master the art of making this amazing Vietnamese dish effortlessly!