Add seafood stock, bay leaves, and thyme sprig to a large pot over medium high heat and bring to a boil. Once boiling, add the chopped carrots and cover. Boil the carrots until fork tender, or about 8-10 minutes.
Remove the pot from the heat. Remove the bay leaves and thyme. Using an immersion blender, carefully blend the carrots and seafood stock until creamy and no chunks of carrot remain.
Return to heat. Stir in the coconut milk, sherry, paprika, cayenne pepper, salt and pepper and bring back to a boil for another minute or two.
Remove the pot from the heat and test the consistency. If too thin, add small portions of the topioca starch & water mixture while constantly stirring until the desired consistency is reached.
Add chopped lobster pieces to the bottom of a soup bowl and spoon the bisque over the lobster. Drizzle with coconut milk and garnish with thyme.