In a heavy saucepan, combine coconut milk, flaked coconut and brown sugar. Bring to a boil and reduce to a simmer. cook for 20 minutes, stirring occasionally. Transfer to a blender, and puree until smooth. Serve immediately.
This syrup works wonderfully on pancakes, pineapple waffles, french toast, cakes, cupcakes, coconut bread, muffins, ice cream, the possibilities are really endless!