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Coconut rum is a flavoured rum, or more accurately, a coconut-flavoured liqueur made with rum. It's characterised by its sweet, creamy coconut flavour, which distinguishes it from regular rum. Unlike typical rum, which has no added sugar and an ABV of 40%, coconut rum liqueurs often have a lower ABV (around 21%) and include added sugar. This means they are not interchangeable with regular rum in cocktails.