Rinse the jasmine rice under cold water until the water runs clear to remove excess starch.

In a medium saucepan, combine the rinsed rice, coconut milk, water, salt, and sugar (if using).

Bring the mixture to a boil over medium-high heat.

Once boiling, reduce the heat to low, cover the saucepan, and let it simmer for 15-20 minutes until the rice is tender and the liquid is absorbed.

Remove the saucepan from heat and let it sit, covered, for 5 minutes.

Fluff the rice with a fork before serving.