Chill cream of coconut and large metal mixing bowl overnight in refrigerator.
Place hardened cream of coconut in chilled mixing bowl with sugar, vanilla and heavy cream. Beat on high 1-2 minutes in mixer, using whisk attachment, until creamy. Alternatively, beat mixture by hand with whisk about 6–7 minutes, until creamy.
Taste and adjust sweetness as needed.
Use or refrigerate immediately.