To a pot over medium heat, add the coconut oil, butter, and garlic. Sauce for one minute.
Add the coconut milk, water, salt, and sugar. Mix well and bring to a boil.
Once it is bubbling, add the rinsed Jasmine rice.
Bring to a boil again and then drop the heat to low, cover, and simmer for 15 minutes. After 15 minutes, turn off the heat but leave it covered for 10 more minutes.
After 10 minutes, remove the lid and fluff the rice with a fork. Enjoy warm!