Peel the bananas and cut them into halves or thirds, depending on their size.
In a large skillet, melt the butter over medium heat.
Add the brown sugar, coconut milk, water, vanilla extract, ground cinnamon, ground nutmeg, and a pinch of salt to the skillet. Stir to combine.
Bring the mixture to a simmer and cook for about 2-3 minutes, until the sugar is dissolved and the sauce begins to thicken.
Add the banana pieces to the skillet, gently stirring to coat them with the sauce.
Cook the bananas in the sauce for about 5-7 minutes, or until they are tender and heated through. Stir occasionally to ensure even cooking.
Remove the skillet from the heat and let the bananas cool slightly.
Enjoy your meal!