Make the Base: In a spacious pot, warm the butter or oil over medium heat. Add the diced onion and cook until tender, about 3-4 minutes. Stir in the minced garlic, grated ginger (if desired), thyme, allspice, black pepper, and salt. Let the mixture cook for an additional minute until the spices become aromatic.

Add Liquid and Rice: Pour in the coconut milk and water (or chicken broth) and bring the mixture to a boil. Add the washed and drained rice, stirring to distribute the seasonings evenly. If using scotch bonnet pepper for heat, add it whole or finely chopped, depending on your spice preference.

Simmer: Reduce the heat to low, cover the pot with a tight-fitting lid, and let the rice simmer gently for 18-20 minutes. Avoid lifting the lid while cooking to ensure the rice steams properly.

Fluff and Serve: Once the liquid is absorbed and the rice is tender, remove the pot from the heat and let it rest for 5 minutes. Fluff the rice with a fork and adjust the seasoning if needed. Serve warm as a side dish or enjoy it as a flavorful main course.