Preheat the oven to 350 degrees F. Spread the coconut evenly on a foil-lined baking sheet. Toast for 3-5 minutes, stirring once midway through, until the coconut is golden brown and fragrant.
In a medium saucepan, bring the water to a boil. Add the amaranth and salt, reduce heat to low and cover, simmering for 20 minutes or until the water is fully absorbed.
Remove from the heat, and stir in the coconut milk and toasted coconut flakes.
If using, stir in the honey and top with toasted slivered almonds.