To a blender, add 1 cup of chopped tender coconut meat, coconut milk and tender coconut water. Blend to a smooth paste.
Place your mixing bowl and beater in the refrigerator for 20 minutes before you beat the cream. To a large bowl, add cold heavy cream.
Using your hand mixer or wire whisk attachment of your stand mixer, beat cream until it forms firm peaks. Be careful not to over-beat.
Add the prepared coconut paste to the whipped cream. Fold with gentle strokes, in one direction.
Stir in the condensed milk and mix until combined. I used the entire 14 oz can of condensed milk for this recipe. If you want it less sweet, reserve around 1/4 cup. Again, fold in gently and not vigorously.
Lastly add the remaining 1/2 cup of the chopped coconut to the ice cream base and fold gently.
Pour ice cream into freezer safe container and freeze the ice cream until set, around 6 to 8 hours.
Once the tender coconut ice cream is set, scoop it out and enjoy!