Caribbean Rice and Peas

In a large saucepan, heat the oil until shimmering. Add the onion and jalapeño and cook over moderate heat until barely softened, about 5 minutes. Stir in the rice. Add the coconut milk, water and salt and bring to a boil. Stir in the beans, cover and simmer over low heat until the liquid is absorbed and the rice is tender, about 20 minutes. 

Remove the saucepan from the heat and fluff the rice with a fork. Cover the saucepan with a kitchen towel and the lid and let stand for 5 minutes. Serve with hot sauce.