Coconut Cream

• Canned cream of coconut is a viable alternative to fresh or canned coconut milk. As the name indicates, coconut cream is similar to coconut milk, but has less water content. Replacing that missing water content can make coconut cream a drop-for-drop substitute for coconut milk. Measure one cup of water, minus 3 tbsp. Replace the 3 tbsp. of water with 3 tbsp. of coconut cream and blend well. This will substitute equally for recipes that call for 1 cup of coconut milk.

Milk and Coconut Extract

• Whole milk, along with 2-percent milk, can be used as a replacement for coconut milk. Add 1 cup of milk to a mixing bowl along with a 1/2 tsp. of coconut extract (more if you want a more dramatic coconut flavor) and blend well. Using regular milk instead of coconut milk actually results in a lower fat level to your dishes. For example, coconut milk has 8 grams of fat per cup while the whole milk and coconut extract only have 5 fat grams. Skim milk, 1-percent milk and even evaporated milk can be used as substitutions, but are not recommended for baking recipes as they will result in a less dense final product. Yogurt can be used too, but should be mixed with water to thin the consistency.

Soy Milk and Coconut Extract

• For vegetarians and vegans who don't have access to canned or fresh coconut milk, coconut extract can be added to soy milk as an equal replacement. For every 1 cup of coconut milk needed, use 1 cup of soy milk combined with 1/2 tsp. of vanilla extract and mix well. The mixtures can be used as the basis for vegan or vegetarian drinks and dishes, such as smoothies, soups or baked goods.

Coconut Milk Powder

• Coconut milk powder can also be used as a substitute for fresh or canned coconut milk. It can be used straight in powder form, adding 1 tbsp. to smoothies, milkshakes or other drink recipes. It can also be mixed with water -- 1 tbsp. per cup of water -- and used equally as a replacement for fresh or canned coconut milk.