Make your own agua de pipa/coconut water?

I found this by trying to calculate the calories in what I do. It tastes amazingly similar Sobe Lifewater (coconut flavor), but at a mere fraction of the cost.
What you'll need:
1 bag of shredded coconut(sweetened or unsweetened)
coffee pot
filter
pitcher
ice
sugar (optional)

I use the unsweetened coconut. Fill the filter up with shredded coconut about a half an inch from the top. Fill the coffee pot with water and pour into machine. Wait for it to brew, will take longer than a pot of coffee due to the thickness of the coconut vs coffee grounds.
Once complete take your pitcher and fill it with ice and pour your coconut flavored water over the ice. If you choose add in 1 to 2 table spoons depending on the size of your pitcher and stir. Refrigerate for about an hour to cool. Before consume unless your pitcher has a filter skim the hardened coconut oil off the top and enjoy.

Personally I use it instead of regular water to "cut" my homemade juices.

This is a really old thread I realize no one may see this or answer - I was looking for a diy coconut water today and found this thread, other than Sam1148 I found one other on a different site that called for this:
Ingredients

1 Can (400mL) Coconut milk
14 cups of bottles spring water
2T honey
(makes 16 - 1cup servings)
It would definitely offer the "watered down" consistency as opposed to the thicker coconut milk version - curious if anyone find fault in this recipe. Thank you for your time!

At Costco, I just bought six quarts (or maybe liters) for $15 ($20 regular price-It came with instant rebate).

Like I said, I used to live near coconuts. I understand how to get coconut milk (actually, we always just steeped the mature coconut meat for that) and coconut "water" (take a machete to a green coconut). Since it doesn't seem there's any better way than that, I think I will just treat coconut water as a special treat and stick to a dash of salt in my post-workout water.

Since coconut water is indeed the liquid inside the coconut, SKK has the right idea. This in itself would be costly -- the price of the young coconuts -- but it would give you pure coconut water. What Sam1148 suggests is really coconut milk. Okay, I looked up the nutrition profiles of both: the coconut milk in the cans and the non-dairy sub coconut milk-like stuff have a tiny fraction of the sodium and potassium in coconut water, aaaannnnddd a ton of fat, although coconut oil is supposed to be good for you.

I used to buy the coconut water at Whole Foods in a regular milk carton. Have you tried that? I know there is powdered coconut milk but, again, not "water." Not terribly helpful but...Ah, here's something interesting, "...Coconut vinegar, made from fermented coconut water..." Sigh, no electrolytes.

importfoods.com imports the young Thai coconuts, but you'd spend a fortune geting it that way, plus what would you do with all that coconut???

Take a cup (or two) of shredded coconut and simmer with a quart of water; reduce heat for about 30mins to steep it. Drain it through a mesh colander or cheese cloth and chill it. You could also add just a pinch of salt to the mix if it's a workout drink.

Buy a young Thai coconut, open it and there is your coconut water, ready to drink. You also have the coconut meat to use. The shell can be composted although it it takes some time. Am not aware of a powdered product, and it seems it would be counter-productive as you would then have processed coconut water which would lose nutrients as well as take more energy to produce.