In a pot on medium heat, bring the coconut milk and the sugar to a boil. Keep a close eye on it so it doesn't boil over.
Reduce heat to medium-low and simmer for 40-45 minutes (until liquid is reduced by about half.)
Stir or whisk every 5 minutes or so.
Remove from heat and let cool (it will get even thicker as it cools.)
Store in fridge for up to 10 days.
