Heat the coconut water and sugar in a small saucepan until sugar dissolves, then remove from heat. Refrigerate.
After the mixture cools, blend it with the coconut milk and the coconut cream until all the ingredients are combined.
Pour the coconut mixture into an ice cream maker, and churn until it reaches the soft-serve stage. Add shredded coconut if using.
Transfer to a freezer safe container, cover, and freeze for 2-3 hours. Allow to sit at room temperature for 10 minutes before serving.
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