Rinse the long-grain white rice under cold water in a fine-mesh strainer until the water runs clear, then drain well to remove excess starch.

Heat the olive oil in a large pot or Dutch oven over medium heat; add the diced onion and sauté for about 3-4 minutes until it becomes translucent and soft.

Add the minced garlic, dried thyme, and ground allspice to the pot, stirring constantly for about 1 minute until the spices are fragrant.

Pour in the coconut milk, vegetable broth, salt, and black pepper, then stir in the rinsed kidney beans and the whole scotch bonnet pepper if using.

Increase the heat to high and bring the liquid to a rolling boil, then stir in the rinsed rice to ensure it is evenly distributed.

Reduce the heat to the lowest setting, cover the pot with a tight-fitting lid, and let it simmer undisturbed for 18-20 minutes until the liquid is absorbed and rice is tender.

Remove the pot from the heat and let it sit covered for another 5-10 minutes to allow the rice to steam and finish cooking.

Discard the scotch bonnet pepper, fluff the rice gently with a fork to separate the grains, and serve warm as a hearty side dish.