Combine the coconut, sugar, and salt in a heavy cooking pot.
Add the water and sweetened condensed milk.
Slowly bring the mixture to a simmer over medium heat, stirring occasionally.
Continue to cook for about 20 minutes or until the coconut mixture is thick and all liquid has evaporated. The coconut will begin to brown, and the mixture will be stiff and sticky.
Remove from heat.
Form the coconut mixture into balls. Place balls on a sheet of wax paper.
Set aside to cook completely. The balls should be firm but not crunchy.
