Extract Coconut Water: Puncture the coconut's 'eye' to extract water into a bowl, about 5 minutes.

Prepare Coconut Flesh: Open the coconut and chop the flesh into small pieces, about 10 minutes.

Blend Ingredients: Combine chopped coconut, coconut water, 4 cups water, sweetened condensed milk, evaporated milk, and vanilla extract in a blender. Blend for 1-2 minutes until smooth.

Strain and Dilute: Strain half of the mixture into a pitcher, leave some coconut pieces for texture, blend remaining mixture with the rest of the water and pour into the pitcher.

Chill and Serve: Serve immediately over ice or refrigerate for at least 30 minutes before serving.

Garnish Delightfully: Garnish with fresh coconut slices, mint leaves, cinnamon, or pineapple cubes.