1Rinse the jasmine rice under cold water until the water runs clear.
In a medium saucepan, combine the rinsed rice and coconut milk.
Bring the mixture to a boil over medium heat, stirring occasionally.
Once boiling, reduce the heat to low and cover the saucepan.
Simmer for about 15-20 minutes, or until the rice is tender and has absorbed most of the coconut milk.
Stir in the sugar and vanilla extract, mixing well until the sugar is dissolved.
Continue to cook for an additional 5 minutes, stirring frequently, until the pudding thickens to your desired consistency.
Remove from heat and let it cool slightly before serving.
Serve warm or chilled, as desired.