Preheat oven to 325 degrees F. Line a sheet pan with parchment paper.

Spread coconut evenly onto a large sheet pan. Toast in the oven until lightly golden brown, about 3-5 minutes. Stir as needed and watch carefully to make sure it doesn't burn. Set aside to cool.

Combine the sugar and water in a small saucepan over medium heat and stir until sugar is dissolved. Bring the mixture to a boil. Stop stirring and insert a candy thermometer.

While the sugar mixture is cooking, place the egg whites in the bowl of a stand mixer fitted with a whisk attachment. When the sugar mixture reaches about 220 degrees F, begin to whip the egg whites. You want to time the eggs whites to be whipped to medium peaks at the same time the sugar mixture reaches 238 degrees F.

When the sugar mixture reaches 238 degrees F, decrease the mixer speed to medium low and immediately pour the sugar into the whipped egg whites in a slow steady stream. Be careful not to hit the sides of the bowl or the whisk. Once all the sugar is incorporated, increase speed to high and beat until the mixture cools to room temperature.

Fold in the unsweetened coconut by hand and scoop onto the prepared sheet pan. Bake until it the meringues just begin to turn golden brown, about 12 minutes. Let cool on the sheet pan. Store in an airtight container at room temperature.