Heat coconut oil and butter in a large skillet over medium-high heat.
Add coconut flakes and rice and cook stirring for 3-4 minutes, until you start to see the coconut browning.
Stir in the lime juice and zest, then add the coconut milk, water and salt.
Bring to a low boil, then cover and reduce heat to low. Cook for 20 minutes.
Remove from heat, fluff with fork and season with salt to taste.
Best if served immediately.
