Coconut milk: Coconut milk has the liquid consistency of cow's milk. It isa liquid made from the pressed meat of a coconut. .
Coconut Cream : is similar to Cream of Coconut but it is unsweetened.
Here is one of my favorites
Homemade Coconut Ice Cream
1/2 cup shredded sweetened coconut
1 cup sugar
3 large eggs
1 teaspoon cornstarch
1/4 teaspoon salt
1 cup half-and-half
1 1/2 cups unsweetened coconut milk
1 cup heavy cream
2 teaspoons vanilla extract
2 tsp Rum
1. Preheat the oven to 400 degrees F. Spread the coconut on a baking sheet lined with aluminum foil. Place in the hot oven for 5 to 7 minutes, or until the coconut turns a light brown. Remove from the oven and allow to cool.
2. In a medium mixing bowl, beat the sugar into the eggs with a hand held mixer until thickened and pale yellow. Beat in the cornstarch and salt. Set aside.
3. Combine the half-and-half with the coconut milk in a heavy medium-sized saucepan. Bring to a boil over medium heat. Remove from the heat and slowly beat the hot liquid into the eggs and sugar. Briefly rinse your saucepan and rub dry with paper towel or cloth.
4. Pour the eggs, sugar, etc mixture back into the saucepan and place over low heat. Stir constantly with a whisk or wooden spoon until the custard thickens slightly. Be careful not to let the mixture boil or the eggs will scramble.
5. Remove from the heat and pour the hot custard through a strainer into a large, clean bowl. Allow the custard to cool slightly, about five minutes, then stir in the toasted coconut, heavy cream, rum and vanilla. Cover and refrigerate until cold (about 5 hours) or overnight.
6. Stir the chilled custard, then freeze in 1 or 2 batches in your ice cream machine according to the manufacturer’s instructions. When finished, the ice cream will be soft but ready to eat. For firmer ice cream, transfer to a freezer-safe container and freeze for at least 3 hours.
Adapted from Baking and Books