In a small sauce pan, over medium heat, melt butter. Whisk while melting and keep whisking until brown flakes appear in the bottom of the pan. Remove from heat and allow to cool. (Resist the urge to remove from heat until the flakes appear--about 6-8 minutes)
Preheat oven to 350 degrees and line baking sheets with parchment paper.
Combine flour through nutmeg in a large bowl. Whisk and set aside.
In a large mixing bowl, pour browned butter over sugars. Beat at med high speed for 2-3 minutes
Add eggs and vanilla and beat for 2-3 minutes more.
With a spoon stir flour into butter mixture adding water to combine.
Stir in oats, chips, nuts and coconut. Mixture will be stiff.
Drop large tablespoonfuls 2" apart on parchment. Bake for 9-11 minutes.
Allow to cool slightly on baking sheet before transferring to wire rack to cool. Store in an airtight container.