HEAT oven to 425°F. Mix flour and salt in medium bowl. Cut in butter until mixture resembles coarse crumbs. Gradually stir in water with fork until well blended; press onto bottom of 8-inch square pan.
BAKE 20 min. or until lightly browned. Reduce oven temperature to 350°F.
BEAT eggs in same bowl with mixer on high speed until frothy. Gradually add sugar, beating until thick and lemon colored. Stir in coconut. Spread preserves over crust to within 1/4 inch of edges; cover with coconut mixture. Bake 25 min. or until golden brown. Cool completely before cutting to serve.