In a large skillet, heat the olive oil over medium heat. Add the chopped onion and sauté until translucent, about 3-4 minutes.
Stir in the minced garlic and cook for an additional 1 minute until fragrant.
Add the shrimp to the skillet and cook until they turn pink, about 2-3 minutes.
Pour in the coconut milk, red curry paste, fish sauce, and brown sugar. Stir well to combine and bring to a gentle simmer.
Cook for another 5 minutes, allowing the sauce to thicken slightly. Stir in the lime juice and season with salt and pepper to taste.
Serve the creamy coconut shrimp over cooked jasmine rice, garnished with fresh cilantro and lime wedges on the side.