Grease ramekins or serving vessels with coconut oil. Set aside.
In a small bowl, combine gelatin powder with water. Stir and let sit for 5 minutes until moisture has been fully absorbed.
In a medium sauce pot, combine coconut milk, coconut cream, and sugar. Set over medium heat and bring to a simmer. Continue to heat until sugar has dissovled. Remove from heat and allow to cool 5-8 minutes.
Add in gelatin. Stir until gelatin has completely dissolved.
Divide milk mixture among prepared greased ramekins. Cool to room tempeature. Cover or keep in airtight container in the fridge for at least 6 hours, overnight is best.
To unmold, dip ramekins one a time into a bowl of warm water for 3-5 seconds. The panna cotta should separate from the vessel. If not, dip ramekin again. If panna cotta is still not separating, run a thin knife or mini offset spatula along the edges of ramekin to loosen. Invert ramekin into serving plate. Garnish with toppings and immediately serve.