Stir coconut milk, water, about half of the coconut, turmeric, and salt together in a small saucepan and place over medium-high heat; cook until the turmeric is completely dissolved into the milk mixture and the color is even. Pour the coconut milk mixture over the rice.
Press Start and cook until the cycle completes and shifts to the Warm cycle, about 22 minutes. Leave rice on Warm for another 5 minutes.
Heat a small skillet over medium-high heat. Toast remaining coconut in hot skillet until golden brown, about 5 minutes.
Fluff cooked rice. Sprinkle toasted coconut over the rice.