Mix oil, garlic powder, ginger and red pepper in large bowl. Add tomatoes, onion and jalapeño; toss to coat. Place vegetables on grill rack or in grill basket.
Grill over medium heat 10 minutes or until vegetables are lightly charred and tender-crisp, turning occasionally. Remove from grill; cool slightly.
Place vegetables in medium saucepan. Stir in coconut milk, salt and pepper. Simmer on low heat 15 to 20 minutes or until flavors are blended, stirring occasionally. Spoon mixture into blender container or food processor; cover. Process until smooth. Serve sauce warm or at room temperature.