Step 1

Whisk together coconut milk, rice flour, and sugar in a medium nonstick saucepan. Cook over medium heat, stirring constantly with a heatproof rubber spatula, until a thick, smooth, slightly sticky dough forms, 5–7 minutes (the dough will pull away from sides of pan).

Step 2

Generously dust silicone baking mat with cornstarch. Transfer hot mochi to mat and generously dust top with more cornstarch. Roll out mochi to a 15x12" rectangle. Let cool.

Step 3

Pulse peanuts, peanut butter, honey, and salt in a food processor until mixture resembles very chunky peanut butter. Transfer filling to a small bowl. Place shredded coconut in a shallow bowl.

Step 4

Cut mochi into twenty 3" squares. Using a #60 or #70 cookie scoop (about 1 Tbsp.), divide filling among mochi squares (save any remaining filling for toast or smoothies). Stretch mochi around filling to encase, then pinch together to seal; roll between your palms into smooth balls. Working one at a time, roll balls in coconut (if coconut doesn’t stick, brush or spritz mochi lightly with water, then reroll).Do ahead: Mochi balls can be made 5 days ahead. Store airtight at room temperature.