Preheat oven to 350°F. Spray a 11" x 7" casserole dish with cooking spray, set aside.
In a Dutch oven or high-sided skillet over medium-high heat, cook the bacon pieces until crisp. Remove the bacon pieces to drain on paper towel, leaving the bacon grease the skillet.
Add in the butter, and once melted, add in the onion, garlic, and bell pepper. Cook until just tender and fragrant, about 5 minutes.
Sprinkle on the flour, and stir to combine. Cook for 2 minutes, just to remove the flour flavor. Then whisk in the coconut milk and evaporated milk. Add in the paprika, dry mustard, and salt. And continue to cook until mixture become just slightly thickened.
Remove mixture from heat, and stir in the cheese, continuing to stir until completely melted. Add in the Sriracha sauce.
Add the cooked macaroni to the sauce, and stir well to coat. Spoon the entire mixture (extra sauce and all) into the prepared casserole dish.
In a small bowl, mix together the cooked bacon pieces and Panko. Sprinkle over top of macaroni.
Bake in preheated oven for 20-25 minutes, or until the top is golden brown and the casserole is bubbly.
Video
Notes
Like it hot? Add more Sriracha for even more spicy flavor.