Gather the ingredients: 2 cups chocolate chips, 1 cup canned coconut milk, and 1/4 cup coconut palm sugar (if you prefer raw honey instead of the coconut palm sugar, use the same quantity listed in the ingredients).
Stove-top method: Place the chocolate chips, coconut milk, and coconut palm sugar in a medium saucepan. Stir to combine, then heat over low heat, stirring frequently with a heatproof spatula or wooden spoon, until the chocolate is completely melted and the mixture is smooth—about 10 minutes. Do not let the mixture boil.
Slow-cooker method: Place the chocolate chips, coconut milk, and coconut palm sugar in the slow cooker. Stir to combine, cover, and cook on LOW until the chocolate has fully melted and the mixture is smooth, about 1 hour. Stir once or twice during cooking to help the chocolate melt evenly.
After cooking (for either method), remove from heat and stir in the 1 teaspoon pure vanilla extract until fully incorporated.
Transfer the hot fudge to a covered glass container and allow it to cool to room temperature. The fudge will thicken when refrigerated; store covered in the refrigerator.
To serve after chilling, reheat gently over low heat, stirring until smooth.