Coconut milk is the liquid that comes from the grated meat of a brown coconut. It should not be confused with coconut water. The color and rich taste of coconut milk can be attributed to the high oil content. Most of the fat is saturated fat.
Coconut flour is a soft flour produced from dried coconut meat. It is a natural byproduct of coconut milk production. Just as you can make homemade coconut milk, you can also make coconut flour in your own kitchen if you were so inclined..