Rinse the jasmine rice under cold water until the water runs clear.
In a saucepan, combine the rinsed rice, coconut milk, water, salt, and sugar.
Stir gently to mix the ingredients well.
Bring the mixture to a boil over medium heat.
Once boiling, reduce the heat to low and cover the saucepan.
Allow the rice to simmer for 15-20 minutes until all liquid is absorbed.
Remove the saucepan from heat and let it sit, covered, for 10 minutes.
Fluff the rice with a fork to separate the grains.
Serve hot, garnished with fresh cilantro.
Enjoy your coconut rice alongside your favorite dishes!