Bring a pot of water to a boil and blanch the pork belly cubes for 3 minutes to remove impurities. Drain and set aside.

In a heavy-bottomed pot or Dutch oven, heat the vegetable oil over medium heat. Add garlic, ginger, and lemongrass stalks, sautéing for 1 minute until fragrant.

Push aromatics to the side. Add the sugar and 2 tbsp water to the center of the pot. Let it simmer without stirring until it turns a deep amber caramel color.

Immediately add the pork belly to the pot and toss vigorously to coat the meat in the caramel (be careful of hot splashes).

Pour in the coconut water and fish sauce. Stir well to combine, scraping up any caramel stuck to the bottom.

Add the hard-boiled eggs and chilies. Bring the liquid to a boil, then reduce heat to low, cover, and simmer for 35 minutes.

Remove the lid and increase heat to medium-high. Simmer for another 10-15 minutes to reduce the sauce until it becomes a thick, sticky glaze.

Remove the lemongrass stalks, garnish with green onions, and serve hot over steamed white rice.