In a large stock pot, over medium-high heat, add the coconut and lightly toast. Remove to a small bowl and set aside. In the same pot, add the oil and the rice and saute until the rice is just starting to brown, about 6 to 8 minutes.
Add the chicken stock and the coconut milk and stir to combine. Reduce the heat to a low simmer, cover and cook for 15 minutes. Remove from heat and stir in the cilantro, cashews and peas. Season with salt and transfer to a serving bowl. Garnish with the toasted coconut and serve.