- Place water and coconut milk in a large bowl and whisk until blended.
- Carefully pour the mixture into an ice cube tray, cover, and place in the freezer. Freeze until firm, about 4 hours or overnight.
- Place the concentrated fruit punch in a medium saucepan and bring to a low simmer over medium heat. Continue to simmer until the punch reduces by half, becoming syrupy, about 5-8 minutes.
- Remove the reduced punch from the heat and set aside to cool to room temperature before transferring to a squeeze bottle.
- Once frozen, and while working in batches, transfer the ice cubes to a food processor. Blend until evenly crushed (texture almost like snow).
- Fill glasses 1/3 of the way full with the shaved ice and drizzle each glass with approximately 2 tablespoons of sweetened condensed milk.
- Top the ice layer with minced pineapple. Then, fill the glasses almost to the top with more shaved ice, topping this layer with an additional 2 tablespoons of sweetened condensed milk.
- Lastly, top the glasses with the remaining shaved ice, creating a mound, and heartily drizzle with the reduced fruit punch.
- Serve the shaved ice immediately. Garnish (optional) with pineapple slices and fun tiki drink garnishes (we love a cute little cocktail umbrella).