Coconut cream is very similar to coconut milk but contains less water. The difference is mainly consistency. It has a thicker, more paste-like consistency, while coconut milk is generally a liquid. Coconut cream is used as an ingredient in cooking, having a mild non-sweet taste.
Coconut cream can be made by simmering 1 part shredded coconut with one part water or milk until frothy, then straining the mixture through a cheesecloth, squeezing out as much liquid as possible; this is coconut milk. The coconut milk is refrigerated and allowed to set. Coconut cream is the thick non-liquid part that separates and rises to the top of the coconut milk.
Cream of coconut is coconut cream that has been sweetened for use in desserts and beverages like the piña colada.
Creamed coconut is a compressed block of coconut flesh which has been slightly dehydrated and sold in a waxy lump.
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—Ralph Waldo Emerson (1803–1882)