Combine a can of coconut milk with the water in a saucepan. Cook on low flame till it starts to heat.
Drain the sago and add in. Continue to cook on low flame, stirring occasionally till the mixture starts thickening and the sago gets cooked, becoming transparent.
While the sago is getting cooked, heat ghee in a saucepan. Add the pineapple pieces and sugar and cook on medium-low flame, stirring till the pineapple becomes soft. Keep smashing the large bits in between.
When the sago is cooked, add in the soft pineapple and the condensed milk and give a stir. Mix well and cook for five minutes.
When the payasam looks done, add the remaining can of coconut milk along with the cardamom and dry ginger powders and cook for two minutes, without allowing it to boil. Switch off.
In a little kadai, heat ghee, fry the cashew nuts. Puff up the raisins and then pour the mixture into the payasam and leave it undisturbed with close lid for five minutes.
Serve warm. It tastes equally good when cold as well!
Notes
The payasam/ kheer tends to thicken as it sits, Heat water in microwave and pour into the payasam, stirring till it comes back to the correct consistency. Do not boil directly otherwise the coconut milk will break!