Chill both cans of coconut milk in fridge overnight. Remove the can of coconut milk from fridge and open upside down. Gently pour out the coconut water that is separated and sitting on top of the coconut cream into a measuring cup.
Place the thick cream that remains into a mixing bowl and whip until peaks form (about 2 minutes if using a mixer.) To improve consistency, slowly add 1-3 oz of coconut water (about 1 oz at a time) while whipping.
When consistency is to your liking, put mixer on “low” and add cacao powder, cinnamon, honey, and vanilla while whipping. Scrape sides of bowl and “fold” in unmixed ingredients.
Store in fridge. Use as dip for fruit, or on top of cakes or cookies.