Begin by selecting a fresh coconut and using a sharp knife to carefully make a small hole in the top to drain the coconut water into a bowl. Retain this water, as it will serve as part of your base.

Once drained, use a hammer or sturdy object to crack the coconut open, and extract the flesh, discarding the shell.

Once the flesh is removed from the shell, chop it into small pieces to maximize the surface area for blending.

In a blender, combine the reserved coconut water, chopped coconut flesh, condensed milk, evaporated milk, vanilla extract, and half of the water. Blend on high speed for about 30-45 seconds, or until the mixture appears smooth and creamy.

Using a fine mesh strainer, pour the blended mixture into a pitcher to strain out any larger coconut chunks.

Fill glasses with ice cubes and carefully ladle the strained coconut punch over the ice.

Garnish with a slice of fresh coconut, a sprig of mint, or a light sprinkle of cinnamon on top.