Bring the water to a boil in a large heavy saucepan over high heat. Add the salt and the rice and stir to combine. Reduce the heat to low, cover, and simmer, stirring occasionally, until the rice is very tender, 25 to 30 minutes.
Add the milk, coconut milk, raisins, sugar, coconut, nutmeg, and cinnamon. Cook uncovered, stirring often, until most of the milk is absorbed, about 20 minutes.
Remove from the heat and add the vanilla. Stir to blend. Serve warm or chilled.
Yield: 6 servings