In a small saucepan, whisk together sugar and cornstarch. Whisk in coconut and cream.
Place over low heat and cook, stirring gently with the whisk for about 5 minutes or until very thick. Pour into a greased 8 x 4-inch (1.5 L) loaf pan and refrigerate for about 2 hours or until cold and firm.
Turn out onto cutting board and cut into 16 pieces.
In deep, heavy saucepan, heat canola oil over medium heat to reach 325°F (160°C).
Coating: Meanwhile, place cornstarch, egg and panko breadcrumbs into 3 individual bowls. Dredge each chilled piece into cornstarch, then egg and finally breadcrumbs. Gently lower several pieces at a time into the oil and fry for about 1 minute or until light golden and crisp.
Remove with slotted spoon to paper towel lined plate. Repeat with remaining ingredients.