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Step 1
Prepare the syrup: Add the full-fat coconut milk and sugar to a small saucepan. Heat over medium heat, stirring regularly until it comes to a boil. Remove from heat, and stir in the liquid smoke. Let cool a little bit while you prepare the flour coating.
Step 2
Make the flour coating: To a medium size mixing bowl, add the flour, cornstarch, onion powder, salt, and garlic powder. Whisk until combined.
Step 3
Coat the peanuts: Add the raw peanuts to a large mixing bowl. Pour about one tablespoon of the syrup over the peanuts and shake the bowl to coat. Next, sprinkle a couple of tablespoons of the flour mixture over the peanuts and shake again to coat the peanuts evenly. (I cover the mixing bowl with a plastic film while shaking ir to prevent peanuts from jumping out of it.)
Step 4
Repeat the same process 4-5 times: add syrup and shake to coat. Then add flour and shake again. The peanuts will have a thick flour coating once you have used up all the syrup and flour.
Step 5
Fry the peanuts: Heat the oil in a deep saucepan or skillet over low-medium heat. Once hot, add half of the peanuts and fry for 6-8 minutes, or until golden brown. Note: do not heat over medium-high heat, otherwise the coating will brown too quickly, and the peanuts will not cook inside.
Step 6
Remove the peanuts from the oil using a slotted spoon and transfer to a plate lined with a kitchen paper towel to remove excess oil. Repeat with the remaining peanuts.
Step 7
Finally, sprinkle smoked paprika and chili over the fried peanuts and stir to coat. Let cool completely and enjoy!
Step 8
Crunchy peanuts will keep for up to 1 week at room temperature in an airtight container.