Add 4 cups of cold water to your blender and blend on high for about 10 seconds until smooth.

Add 1 cup of sugar and 1 teaspoon of coconut extract, then blend for another 10 seconds until fully combined.

Add 1 cup of sweetened condensed milk, blend for about 15 seconds until well incorporated.

Wash 4 fresh limes, cut off the ends, and slice each lime into 18 small wedges.

Add the lime pieces to the blender and blend on high speed for about 20 seconds.

Strain the blended mixture using a fine mesh strainer into a bowl or pitcher to remove the pulp.

Pour the refreshing lemonade into glasses, add ice if desired, and garnish with lime slices.