It is very clear even with their names that coconut milk and cream of coconut are not the same. One of the major differences between the two is the thickness of the two liquids. Although both are thick, the cream of coconut is thicker than coconut milk. Another difference is that both are produced differently.
For instance, the production of coconut milk comes by soaking grated (the white inner flesh of the seed of the coconut) in water and straining. Cream of coconut, on the other hand, is a thicker, sweetened version of coconut cream because it has more sugar than coconut milk.
Since coconut milk is not as thick as the cream of coconut, it hardens slowly compared to the latter. Although both contain fat, the fat content of cream of coconut is higher than that of coconut milk. However, aside from these little differences, the health benefits of the two are the same.