Pour the coconut milk into your large heavy-bottomed pot and bring it to a gentle boil over medium heat, stirring occasionally to prevent skin formation on top.

Add the granulated sugar and sweetened condensed milk to the boiling coconut milk, stirring constantly until both ingredients are completely dissolved and evenly distributed throughout the mixture.

Reduce heat to medium-low and let the mixture simmer for 10 minutes, stirring occasionally to prevent sticking and ensure even cooking.

While the mixture simmers, combine the fresh milk and cornstarch in a separate bowl, whisking vigorously until the cornstarch is completely dissolved with no lumps remaining.

Slowly pour the cornstarch mixture into the pot while stirring continuously, then immediately add the cream-style corn and mix thoroughly.

Reduce heat to low and begin stirring constantly in a figure-eight motion, scraping the bottom and sides of the pot to prevent burning.

Continue cooking and stirring for 10-15 minutes until the mixture thickens to a pudding-like consistency that coats the back of your spoon.

Remove from heat and immediately pour the mixture into your prepared glass baking dish, using a spatula to spread evenly and smooth the top surface.

Allow the maja blanca to cool completely at room temperature for about 30 minutes before covering with plastic wrap.

Refrigerate for at least 1 hour or until completely set and chilled through.

Just before serving, sprinkle the toasted grated coconut and crushed peanuts evenly over the top.

Cut into squares and serve chilled or at room temperature according to your preference.