Place jasmine rice in a fine mesh sieve and rinse under cold water until water runs clean. Drain well, it works best to tap base of sieve with your hand or against the sink.
Heat coconut milk and coconut water in a medium non-stick saucepan set over medium-high heat. Bring to a boil, season with salt (add to taste, I use about 3/4 tsp) add rice and bring to a simmer.
Reduce heat to low, cover and simmer until water has been absorbed (you may find there's a few small pools of liquid at the top and that's fine), about 17 - 20 minutes.
Remove from heat let rest covered 15 minutes. Uncover, fluff with a fork and serve warm.
Most of the time I serve this rice plain but it's also good with mix ins. Here's some MIX IN IDEAS: