Soak the dried kidney beans overnight, then place beans in a large saucepan with the water.
Add onion, garlic, allspice, thyme, Scotch bonnet, ginger, salt, pepper and coconut milk.
Bring to a slow boil, then reduce heat. Cover and let simmer for about an hour.
Add rice, then continue to simmer for about 30 minutes until rice is soft and fluffy.
Remove from heat and let stand for about 10 minutes. Add additional salt and pepper if needed for taste.
Remove the Scotch Bonnet Pepper, fluff with a fork and serve.