Heat olive oil in a medium-sized saucepan over medium high heat. Add in rice and toast, 2 to 3 minutes, stirring until rice begins to turn a light golden brown.
Pour in coconut milk, water, and salt. Bring to a boil.
Place a lid onto the saucepan and reduce the heat to low.
Simmer on low 15 minutes, until all liquid has been absorbed and rice is tender. Use a fork to fluff rice and serve hot.