Heat a large pot over medium-high heat. Melt the butter. Add brown sugar, coconut, and rice. Cook, stirring, for a minute or two, until covered in butter and sugar has melted.
Add the coconut milk and water. Turn the heat to high and bring to a boil.
Turn the heat down, add the lid, and simmer for 18-20 minutes or so or according to your package instructions.
Remove from heat and let sit for 10 minutes. (Don't peek!)
Fluff rice and serve with cilantro and a small squeeze of lime juice if you like.
Notes
I use unsweetened coconut flakes in this recipe and full-fat coconut milk.Make sure to rinse the rice well.