Using gloved hands, use kitchen shears to cut down the middle of the shell, stopping right before the last hump before the tail fin.
Turn tail over and gently loosen meat near the head end and lift out, leaving the meat connected near the tail fin.
Lift meat and gently close tail shell, resting meat on top of the closed shell. This is called crowning. Season meat with Old Bay.
Place crowned tails into the top of the steam pot.
Bring water to a boil in the bottom of the steam pot.
Place the top of the steam pot over the bottom of the pot. Turn heat down to low and cover the pot. Steam for 8-10 minutes.
Remove meat from tails and chop into bite sized pieces.
To Make the Risotto
In a large skillet, sautee garlic and shallots in butter over medium heat until tender.
Add water and clam juice. Increase heat to medium-high and bring to a boil.
Add saffron rice and turn heat down to low. Cover and allow to cook for 20-25 minutes, stirring occasionally. Rice should still have a little firmness to it.
Once water is mostly absorbed, add cream cheese and lemon juice. Stir until cream cheese is melted.
Stir in chopped lobster until heated through, about 2-3 minutes.
Turn off heat, cover, and allow to rest for 3-5 minutes. Optionally stuff the risotto into the lobster tail shells for a nice presentation.
Notes
If you want more meat, you can use more tails.
Look for Saffron Yellow Rice. Saffron itself as a spice is difficult to find and very expensive. Saffron rice can be found at the grocery store with the other rices.