Chill your coconut milk in the refrigerator overnight, being sure not to shake or tip the can to encourage separation of the cream and liquid.
Remove the coconut milk carefully from the fridge and remove the lid. Scrape out the top, thickened cream and leave the liquid behind (reserve for use in smoothies).
Place the hardened cream into a mixing bowl. Beat for 30 seconds with a mixer until creamy. Add the powdered sugar and mix until creamy and smooth, for about 1 minute. Taste and adjust sweetness as needed.
Use immediately or refrigerate - it will harden and set in the fridge the longer it's chilled. The coconut cream will keep for up to 1 to 2 weeks.