Rinse the jasmine rice thoroughly under cold water until the water runs clear to remove excess starch.
In a medium saucepan, combine the rinsed rice, coconut milk, water, lime zest, sugar (if using), and salt. Stir to combine.
Bring the mixture to a gentle boil over medium-high heat, then reduce the heat to low, cover with a lid, and let it simmer for about 15-20 minutes or until the rice has absorbed most of the liquid and is tender.
Once done, remove the saucepan from the heat and let it sit, covered, for an additional 5-10 minutes to allow the rice to steam and fluff up.
After the resting period, remove the lid and gently fluff the rice with a fork. Drizzle fresh lime juice over the rice and gently mix to incorporate the flavors.
Transfer the rice to a serving bowl and sprinkle with fresh cilantro for garnish. Serve with lime wedges on the side.
Notes
Optional sugar can be adjusted based on personal preference.