Prepare the Gelatin: In a small bowl, sprinkle the powdered gelatin over the cold water. Let it sit for about 5-10 minutes to soften, also known as blooming.
Heat the Coconut Milk and Cream: In a medium saucepan, combine the coconut milk, heavy cream, and sugar. Heat over medium heat, stirring occasionally, until the sugar is dissolved and the mixture is just simmering. Do not boil!
Dissolve the Gelatin: Remove the saucepan from the heat and add the bloomed gelatin. Stir until the gelatin is completely dissolved.
Add Vanilla Extract: Stir in the vanilla extract.
Pour into Molds: Pour the mixture into individual serving glasses or ramekins.
Chill: Cover the glasses or ramekins with plastic wrap and refrigerate for at least 4 hours, or preferably overnight.
Prepare the Mango Salsa: While the panna cotta is chilling, prepare the mango salsa. In a medium bowl, combine the diced mangoes, red bell pepper, red onion, jalapeño (if using), and cilantro.
Add Lime Juice and Salt: Add the lime juice and salt to the mango salsa. Gently toss everything together to combine.
Chill the Salsa: Cover the mango salsa and refrigerate until ready to serve.
Assemble and Serve: Just before serving, spoon the mango salsa over the chilled Coconut Panna Cotta.