Mix together rum, garlic, chilli powder, coriander and Tabasco sauce.
Rinse steak under cold water and dry. Place in a shallow, ovenproof dish and pour over rum mixture. Cover, and leave for at least 30 minutes, but preferably in a refrigerator over night.
Heat barbecue, or pre-heat grill to highest temperature. Remove steak from dish; reserve marinade.
Place steak over a hot barbecue or under a very hot grill and cook for 5 minutes a side, or longer if desired, turning occasionally and basting frequently with marinade. carve steak into thin slices.
Serve with Mexican rice, re -fried beans, and a salad.
NOTE: If steak has been in refrigerator overnight, transfer to room temperature 45 minutes before cooking.