Precook the shrimp in a skillet over medium heat until BARELY pink. Let cool and peel, set aside for later.
In a large skillet, mix the olive oil and butter and heat until the butter has melted. Stir in the garlic, scallions, and ginger and make sure everything is coated evenly.
Sauté over medium-low heat until the garlic and scallions are soft but not brown.
Stir in the Rum, and lime juice. Cook for one minute, and then add the Tabasco sauce, garlic pepper, and coconut milk, stirring well.
Reduce heat and cook for two minutes. Meanwhile combine the cornstarch with the 2 tablespoons of water and mix to make a paste. When you are done combine the cornstarch mixture to the sauce and stir well.
Add the shrimp and cook for a minute or two until the sauce slightly thickens. Serve right away over white rice, and enjoy!