How to Make It
Cook coconut milk in a large high-sided skillet over low, stirring occasionally, until reduced by half, about 30 minutes. Pour into a liquid measuring cup or small bowl; set aside. Wipe skillet clean.
While coconut milk cooks, bring 4 quarts water and 3 tablespoons salt to a boil in a large pot. Separate Swiss chard leaves from stems. Tear each leaf into 3 or 4 pieces. Chop stems into 1/4-inch pieces.
Transfer stems to boiling water; cook until tender, about 5 minutes. Using a slotted spoon, transfer to a large bowl. Add leaves to boiling water; cook until bright green and almost tender, about 1 minute. Drain. Add leaves to stems in bowl.
Add shallot and coconut oil to cleaned skillet; cook over medium-high, stirring often, until translucent, about 3 minutes. Add reduced coconut milk and Swiss chard stems and leaves; cook, stirring constantly, until mixture is warmed through and Swiss chard is coated, 2 to 3 minutes. Stir in pepper and remaining 1/4 teaspoon salt. Serve immediately.