1 coconut, flesh removed and finely grated |
MIX the coconut in a medium bowl with 1 cup of the water, stirring to combine. Strain through a fine-mesh sieve over another bowl, squeezing the coconut to release all the liquid. Reserve the coconut flesh.
COMBINE the strained liquid in a medium saucepan with the sugar and butter over medium-high heat. Bring to a simmer and cook, stirring occasionally until a dark rich caramel forms, 10 to 12 minutes.
REPEAT the soaking and straining process with the coconut flesh and the remaining water 3 more times. Reserve the coconut liquid and discard the flesh.
ADD the raisins once a caramel has formed and cook until softened, 2 minutes. Add the remaining coconut liquid and bring to simmer. Once simmering, stir in the rice and salt. Cook, covered, until the liquid is absorbed and the rice is tender, 30 minutes. Fluff with a fork and transfer to a bowl, then serve.