In a medium-sized saucepan, combine 2 cups uncooked jasmine rice, 1 (14-ounce) can coconut milk, 1 ¼ cup coconut water, 1 tablespoon sugar, and ½ teaspoon salt.
Bring to a boil, then reduce heat to low, cover, and cook for 12-14 minutes or until the rice is tender and the liquid is absorbed.