Boil rice , water , and cinnamon , cover turn to a simmer after the boil for 15 mins. While rice cooks, soak one fourth cup coconut and raisins in rum.
When rice is done add milk, coconut milk, raisins, sugar. Turn heat to med.-low cook stirring frequently for about 45 mins. If liquid boils rapidly reduce heat to low. When the pudding is done, remove from heat and discard the cinnamon.
Stir in the vanilla , cool the pudding slightly. Toast the remaining half cup coconut for 5mins in 350 oven. When pudding has cooled slightly add the half and half.Serve lightly chilled or at room temp. Sprinkle with the toasted coconut.