Drain pineapple, reserving juice; set aside juice and chunks. Reserve 1/2 cup grated coconut.
Arrange half of orange sections in bottom of a glass 1 1/2- quart serving bowl. Top with half of pineapple chunks, coconut, bananas, and sugar. Repeat layers with remaining ingredients, pouring reserved pineapple juice over top and sprinkling with reserved coconut. Cover and refrigerate overnight. Spoon fruit mixture into individual serving bowls, and serve chilled.