To a medium pot, add the seafood stock and water. Bring to a low simmer. Keep the stock simmering so it's warm for later.
Melt the butter in a small pan. Stir in the water and parsley and bring to a very low boil on low heat. Pro Tip: Using a pan that is too large will give you a shallower amount of butter to poach the lobster in.
Place the lobster meat into the butter and cook until it reaches an internal temperature of 135-140 degrees F. The meat should be opaque when cooked through. Set the lobster aside to cool and then roughly chop. Do not discard the butter.
Place 6 tablespoons of the lobster butter into a large skillet. (Reserve the remaining butter.) Place the skillet over medium-low heat and add the shallot, garlic, and salt to the butter. Cook for about 3 minutes.
Add the rice to the skillet and stir to absorb all the butter. Toast the rice for about 5 minutes or until almost translucent. Pour in the white wine and cook down until almost all of the liquid is gone.
Add 1 cup of warm stock to the rice and cook until almost all the broth has been absorbed, stirring frequently. Repeat the process until you have about 1 cup of stock left in the saucepan. Test the rice for your desired doneness. If needed, add ¼ cup of stock at a time and then recheck the rice.
Remove the skillet from the heat. Add the lobster meat, parmesan cheese, and remaining lobster butter to the risotto. Mix to melt the cheese and reheat the lobster.
Portion onto plates and garnish with freshly chopped parsley and more parmesan cheese if desired. Serve warm.
Notes
If you don't have seafood stock on hand, you can use chicken stock and put the lobster shells into the stock. Simmer that in a medium saucepan for about 15 minutes with the lid on the pan. This will help give it more seafood flavor.