In a large bowl, mix the warm water, coconut milk, sugar, salt, and yeast, and set aside for 5 minutes.
Then, mix in the flour with a wooden spoon or your hands. Follow with the coconut flakes. Mix well until flour and coconut flakes have been fully incorporated.
Set the mixture in a warm area and let it rise until doubled in size, 1-2 hours.
In a large saucepan, pour at least 3 inches of vegetable oil (about 5 centimeters). Too little will result in flatter balls. Heat over medium heat until the oil is 375℉ (190℃).
The dough will be sticky, so use your hands to grab a little bit of mixture at a time and drop it in the oil. Or use a spoon to scoop up the batter, and another spoon to drop it in the oil, sort of in the shape of a ball. Fry the puff puff in batches to avoid overcrowding the pan.
Fry for a few minutes until the bottom side is golden brown. Then turn the ball over and fry for a few more minutes until the other side is golden brown.
Remove the cooked puff puff from the oil with a slotted spoon and place them on napkins to soak up the excess oil.
If desired, roll your fried coconut dough balls in table sugar or powdered sugar to decorate them and make them sweeter.