Cook the rice. In a medium saucepan, combine the rice and water. Bring to a boil, then lower the heat and simmer, covered, for 12-15 minutes until the rice is tender. Don’t peek too much—you want it soft but not mushy.
Add coconut milk and sugar. Pour in the coconut milk and stir in the sugar and salt. Bring to a gentle simmer. Stir often to prevent sticking. Your kitchen is about to smell amazing—try not to taste-test every spoonful (or do, I won’t judge).
Simmer for creaminess. Reduce heat to low and let it simmer for about 15 minutes, stirring occasionally. The mixture should thicken to a pudding-like consistency.
Add vanilla and cinnamon. Remove from heat and stir in vanilla extract and cinnamon. This is where it really starts to feel like dessert magic.
Chill or serve warm. You can serve this warm, straight from the pot, or let it cool to room temperature and then chill in the fridge for a firmer pudding. Either way, you’re winning.