Cut croissants into 1 inch cubes and spread along the bottom of a 9 x 13 inch baking pan. In a bowl mix eggs, evaporated milk, coconut milk, and sugar; add water until it has a custard texture. Pour custard mixture over bread cubes.
Top with shredded coconut and macadamia nuts. Bake for 1 1/2 to 2 hours.