Chill the coconut cream first for 1-2 days in the refrigerator. You can store several cans in the back of your fridge so when you want whipped cream you are ready to go.
Once the coconut cream has chilled for a few days, place a medium-large mixing bowl in the freezer for 10 minutes. You can even place your hand mixer whisks in there! It helps if everything is very cold, because heat melts the coconut cream.
When everything is chilled and ready, place the bowl on the counter and open the can of coconut cream. Using a spoon, scoop out the hardened coconut cream. It should be very thick and hard, not soft. If it is still soft, you have have gotten a bad brand that won’t work as well. Place the hardened coconut cream in your chilled bowl. If there is any liquid at the bottom of the can, do not use it, but save it for later (smoothies, etc).
Using a hand mixer, beat the cream on high for about a minute. Sift in your powdered sugar (otherwise it will leave clumps), add the vanilla and optional Whip it stabilizer and beat for another minute until smooth and creamy. It won’t be as fluffy as real whipped cream gets. Add more powdered sugar, to taste, depending on how sweet you like it.
Use immediately or store in a covered container in the refrigerator for about a week. It can also be frozen, though the texture will change slightly. Enjoy with fresh fruit, on pie, waffles, hot cocoa, coffee or anywhere else you like.