Making coconut milk from a coconut is a project, but very very rewarding. I got my coconut from my bountiful basket, as usual, and didn't want to let it go to waste.
Here are the steps I took:
To open the actual coconut, I pretty much followed the steps listed on this website (except I didn't cover it with a towel and bash away. I hammered on the line that goes horizontal (if the "eyes" are on the top).
Pealing away the meat was hard for me because my coconut was a little older, but usually if it's ripe it will be softer and will peal away better. You can just use a spoon to scoop it out.
The end result is deliciously creamy coconut milk! It is so rewarding to know that I made that from a coconut =) I am planning on using it to make coconut rice. YUM!