Combine rice with water, coconut milk, and salt in a small pot set over high heat. Bring the liquid to a boil, stir, and turn the heat down to low. Cover and allow the rice to cook for 20 minutes.

At this point, most of the liquid should have been absorbed by the rice; check by stirring gently with a fork. Remove the pot from the heat, stir in the shredded coconut, and let stand, covered, for another 10 minutes. Fluff with fork and serve with fresh minced cilantro.