Heat olive oil in a large saucepan over medium heat. Stir in garlic, onion, and tofu; cover, and cook, stirring occasionally for 5 to 10 minutes.
Stir in coconut milk, cumin, curry powder, ginger, salt, and red pepper paste; bring to a simmer. Add tomato sauce, peas, and carrots; simmer, covered, about 30 minutes.