Clean the pork belly. Marinate the pork belly with half of the fish sauce, half of the minced shallots, half of the minced garlic, and half a teaspoon of black pepper. Mix well and let it marinate for at least 30 minutes at room temperature, or preferably in the refrigerator for a few hours.
In a heavy-bottomed pot or Dutch oven, add vegetable oil and half of the granulated sugar. Heat over medium-low heat, stirring occasionally, until the sugar melts and turns into a deep amber caramel. Be careful not to burn it.
Add the remaining shallots and garlic to the pot with the caramel. Sauté for about 1-2 minutes until fragrant. Then add the marinated pork belly (draining off any excess marinade liquid) and sear until lightly browned on all sides.
Pour in the remaining fish sauce, the remaining granulated sugar (if any was reserved from the 80g total and not used for caramel), fresh coconut water, and the remaining black pepper. Bring the mixture to a simmer. Add the hard-boiled eggs.
Reduce the heat to low, cover the pot, and let it braise for 1.5 to 2 hours, or until the pork is fork-tender and the sauce has thickened slightly and developed a rich color. Stir occasionally to prevent sticking.
Taste and adjust seasoning if needed. Serve Thịt Kho Tàu hot with steamed jasmine rice, often accompanied by pickled mustard greens or fresh vegetables.
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