Combine the rice, coconut, coconut milk, sugar, salt, and ½ cup water in the pressure cooking pot. Stir well.
Lock the lid in place. Select high pressure and a 3-minute cook time. When the cook time ends, turn off the pressure cooker and let the pressure release naturally for 7 minutes. Then finish with a quick pressure release.
When the valve drops, carefully remove the lid. Fluff the rice with a fork and garnish with additional coconut if you like.
Garnish with scallions, and store in an airtight container in the fridge for up to 4 days. Reheat over low heat on the stove, stirring constantly, or in a microwave on 80% power in 15-second increments.