In a large pot, heat the cooking oil over medium heat. Add the diced onion and minced garlic, and sauté until fragrant.
Add the rice to the pot and stir to coat the rice with the onion and garlic mixture.
Pour in the coconut milk and water, then add the drained and rinsed red kidney beans, thyme, salt, and black pepper. Stir well to combine.
Bring the mixture to a boil, then reduce the heat to low and cover the pot with a lid. Let it simmer for about 20-25 minutes, or until the rice is cooked and all the liquid is absorbed.
Once the rice is cooked, fluff it with a fork and serve hot.
Enjoy!