In a large heavy-bottomed pot or Dutch oven, melt butter, then add onions and thyme and sauté over medium heat until translucent, about 3 minutes.
Add garlic and stir for another 30 seconds, stirring constantly so the garlic doesn’t burn.
Stir in bouillon cube (or powder), breaking it up into the onions, garlic and thyme.
Add coconut milk, water (1 cup if using a Dutch oven or 1 ½ cups if using a heavy bottom pot), bay leaves, salt, jalapeno pepper, and stir continuously as it comes to a gentle boil over medium high heat.
Add 1 1/2 cups (375 mL) kidney beans, stir then add rinsed white rice. Stir once to combine everything. Ensure the liquid is covering the rice; add more water if needed.
Once the liquid returns to a boil, immediately reduce heat to a low simmer, cover the pot tightly, and let simmer undisturbed for 20 minutes (if using a Dutch oven) or 15 minutes (if using a heavy bottom pot). Do not lift the lid if at all possible.
At 20 minutes (or 15 minutes for a heavy bottom pot), lift the lid to check and see if the rice is finished cooking – take a small taste and if the rice is still crunchy, replace the lid and cook for 3-5 more minutes.
When rice is cooked, remove pot from heat and remove the bay leaves, jalapeno pepper, bay leaves. Use a fork to gently fluff the rice before serving.