IN A SAUCEPAN OR DEEP SAUTE PAN ON MEDIUM HEAT PUT WATER OR COCONUT MILK AND SUGAR, STIR UNTIL SUGAR DISSOLVES. STIR IN SALT AND VANILLA. INCREASE HEAT TO HIGH AND BRING THE CARAMEL TO A BOIL WITHOUT STIRRING. WHEN IT TURNS AMBER IN COLOR, ADD THE BANANA SLICES AND COOK UNTIL TENDER. IF YOU FIND THAT THE CARAMEL IS TOO THICK AND YOUR BANANAS AREN’T QUITE COOKED YET, YOU MAY ADD LITTLE WATER OR COCONUT MILK AND SIMMER AND STIR GENTLY UNTIL IT’S COOKED.