Heat oil in a medium saucepan over medium-high heat until very hot. Add rice and fry, stirring often, until it becomes white and begins to crackle.
Add the onion and garlic and cook, stirring frequently, until onion begins to soften.
Add broth, coconut milk, and salt, stirring well to combine. Increase heat to high and bring to a boil. Stir, reduce heat as low as possible, and let simmer until most of the liquid is absorbed and rice is tender.
Remove from heat and let rest, covered.
Fluff rice, adjust salt, and serve.
Made this last night with 3 cups of broth and a can of coconut milk in a rice cooker, which ended up overcooking the rice to basically a mush. I've reduced the amount of broth by 1 cup which is more in line with the ratio usually used for white rice. This was very good, but needed a total of 1 1/2 tsp. salt because the broth we used wasn't particularly salty.