Rinse the red kidney beans and soak them overnight in water. Drain the beans before cooking.
In a large pot, heat the vegetable oil over medium heat.
Add the diced onion and minced garlic and sauté until they become fragrant.
Add diced tomatoes and red bell pepper, stir to combine
Add the soaked red kidney beans to the pot and stir them with the onions and garlic.
Pour in the coconut milk and water, and bring the mixture to a boil. Reduce the heat to low and let it simmer for about 1 hour or until the beans are tender.
While the beans are cooking, rinse the white rice under cold water until the water runs clear. Drain the rice.
Once the beans are tender, add the rice to the pot. Stir in the salt, black pepper, thyme, and paprika.
Cover the pot and let the rice and beans simmer for about 20 minutes or until the rice is cooked and fluffy.
Remove the pot from the heat and let it sit, covered, for about 5 minutes to allow the flavors to meld together.
Garnish with cilantro
Fluff the rice and beans with a fork before serving. Serve hot as a main dish or as a side dish with stewed chicken, fish, or beef.