Coconut cream is very similar to coconut milk but contains less water. The difference is mainly consistency. It has a thicker, more paste-like consistency, while coconut milk is generally a liquid.
Creamed coconut is not the same as coconut cream. Creamed coconut is a very concentrated coconut extract without the water. Like coconut oil, it is solid at a low room temperature. It is basically coconut cream concentrate, and can be made into coconut cream by mixing it with water, or into coconut milk by mixing it with a larger amount of water. It is typically sold as a 200ml block in a plastic bag inside a small box. In the UK it is widely and cheaply available (from £0.30 to £1.00 per 200ml block) in Asian convenience stores and in the Asian sections of large supermarkets.
Coconut cream can be made by simmering 1 part shredded coconut with one part water or milk until frothy, then straining the mixture through a cheesecloth, squeezing out as much liquid as possible; this is coconut milk. The coconut milk is refrigerated and allowed to set. Coconut cream is the thick non-liquid part that separates and rises to the top of the coconut milk.
Coconut cream is high in healthy medium chain fatty acids and is very rich in flavor.