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Cream of Coconut: Cream of Coconut works well as a sweetened condensed milk alternative, and can offer a wonderful tropical flavor to your desserts. Substitute it for sweetened condensed milk using a 1:1 ratio. Do not confuse this with Coconut Cream, Cream of Coconut is much sweeter, and sold in separate cans. Look for brands such as Coco Lopez, Roland, Coco Real, or Goya.
How to Use Evaporated Milk in Place of Fresh Milk. Since evaporated milk is a thicker, sweeter-tasting milk, it isn't typically substituted for fresh milk for drinking purposes. It can, however, play a role in cooking as a substitute for fresh milk. In most dishes, the Very Best Baking website notes, you won't even notice the taste difference. And for health's sake, you can use lowfat and fat-free options. How you use the evaporated milk depends on the result you are aiming for.