I'd say, better to eat the coconuts.
In fact, young Thai coconuts have less fat than the old brown hairy ones. The water is far better, much sweeter and very refreshing. It was reported that the water was used as a blood transfusion as it contains many of the same properties as human plasma.
I used to crack open the top of a young coconut and put a straw in, and drink the refreshing water after working out. I live somewhere where the coconuts are not as affordable, so I stopped that luxury!
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