Recipe from Bon Appetit1 cup butter, room temperature
2-1/2 cups powdered sugar
1/3 cup reduced coconut milk, room temperature
1 vanilla bean, sliced in half seeds scraped
To reduce coconut milk: Bring coconut milk to boil in large deep saucepan over medium-high heat (coconut milk will boil up high in pan). Reduce heat to medium-low stirring occasionally, cook 25 to 30 minutes. Remove from heat; cool completely. Transfer to small bowl. Cover; chill (coconut milk will settle slightly as it cools). Can be made 2 days ahead. Keep chilled.
Using electric mixer, beat butter in large bowl until smooth. Add sugar, 1/3 cup reduced coconut milk, and seeds from vanilla bean. Beat on medium-low speed until blended, scraping down sides of bowl. Increase to medium-high and beat until light and fluffy.