01 - Pour the coconut milk and granulated sugar into a medium saucepan. Add a pinch of salt and stir to combine.
02 - Set the saucepan over medium heat and bring to a gentle simmer, stirring frequently until the sugar dissolves completely.
03 - Lower the heat and maintain a gentle simmer without boiling. Stir occasionally for 35 to 40 minutes, allowing the mixture to reduce by roughly half and develop a thick, syrupy consistency.
04 - Remove from heat and stir in the vanilla extract if using. Let the condensed coconut milk cool to room temperature; it will continue to thicken as it cools.
05 - Transfer to an airtight container and refrigerate for up to 1 week.