If you are using a natural coconut, begin by making a small hole in the coconut to remove the water. Open it in half and chop the coconut meat into small pieces.

Put the coconut flesh, the fresh coconut water, 4 cups of the water, condensed milk, evaporated milk, and vanilla into a blender. Blend until smooth and the coconut is very soft.

Strain half of the mixture into a pitcher and add the remainder of it without straining, so you have some pieces of fresh coconut. If you prefer not to have any pieces of coconut, strain all of it. You may add a tablespoon or two of the contents in the strainer for extra flavor.

Add the remaining 4 cups of water to the pitcher. Stir and refrigerate or serve immediately over glasses filled with ice.

Garnish with slices of coconut, mint, cinnamon or sliced fresh pineapple.