Rinse the jasmine rice under cold water until the water runs clear, then drain.
In a medium saucepan, combine the rinsed rice, coconut milk, water, lime zest, sugar, and salt. Stir gently to combine.
Bring the mixture to a boil over medium-high heat. Once boiling, reduce the heat to low, cover the pot, and let it simmer for 15-18 minutes, or until the rice is tender and all the liquid is absorbed.
Remove the saucepan from heat, and let it sit covered for an additional 5 minutes to allow the rice to steam.
Fluff the rice with a fork, then add the lime juice, stirring gently to incorporate.
Serve warm, garnished with fresh chopped cilantro and a sprinkle of toasted coconut flakes on top.