Preheat oven to 300°F (150°C) and place four 6 oz. ramekins in a medium baking dish.

In a medium saucepan, bring 1 cup of coconut milk and ⅓ cup of granulated sugar to a boil, stirring to dissolve. Remove from heat, stir in vanilla, cover, and let sit for 10 minutes.

Meanwhile, bring a kettle of water to a boil. Stir the remaining coconut milk into the hot milk/sugar mixture.

Whisk egg yolks in a medium bowl, then slowly stream the warm coconut milk mixture into the yolks, whisking constantly until combined.

Divide the mixture evenly into ramekins. Carefully fill the baking pan with hot water, ⅔ up the sides of the ramekins, creating a water bath.

Bake for 30-35 minutes, or until the internal temperature reaches 175°F (79°C) and the center is barely set.

Cool ramekins in the water bath at room temperature for 2 hours, then transfer to the refrigerator and chill for at least 4 hours.

Just before serving, sprinkle with granulated sugar and caramelize with a kitchen torch.