In medium saucepan, combine coconut and water. Bring to a boil; boil 1 minute. Place strainer over 2-cup measuring cup. Pour coconut mixture into strainer; press out all liquid. Measure liquid and add water to make 2 cups. Discard coconut.
Return coconut liquid to same saucepan. Stir in onions, garlic, thyme,salt and sugar. Bring to a boil. Add rice; cook 1 to 2 minutes or untilliquid is absorbed.
Add beans; cook until thoroughly heated.