Prepare the Coconut: Create a hole in the top of the coconut to drain the water into a bowl, then break the coconut in half and chop the meat into small pieces.

Blend the Ingredients: In a blender, combine the coconut meat, drained coconut water, 4 cups of water, sweetened condensed milk, evaporated milk, and vanilla extract. Blend until smooth.

Strain the Mixture: Use a fine-mesh strainer over a large pitcher to pour half of the blended mixture to catch larger pieces.

Adjust the Consistency: Stir in the additional 4 cups of water into the strained mixture to achieve the desired consistency.

Serve and Chill: Pour the Coconut Cooler over ice in tall glasses and chill for up to two hours.

Garnish and Enjoy: Garnish with slices of coconut or mint leaves for a finishing touch.