Preheat oven to 350 degrees.
In a large bowl, beat eggs; add sugar, coconut milk/water, and oil and beat until blended. Sift together sweet rice flour and baking powder. Add to liquid mixture and mix well.
Pour half of batter into lightly greased 9" square pan. Bake for 10-15 minutes.
Take pan out of the oven and spread red bean paste on top.
Pour remaining batter into pan and spread over red bean paste.
Bake another 35-40 minutes until lightly browned on top.