In small saucepan, combine coconut water and sugar and bring to boil.

Reduce heat to medium-low and simmer without stirring for 2 minutes. Remove from heat.

Add pineapple to food processor. Purée until smooth and creamy for 1 minute. Add sugar syrup and lime juice and blend for 10 seconds more.

Pour pineapple mixture into flat, shallow baking dish or plastic storage container.

Freeze for 1 hour, or until just starting to freeze around edges. With fork, break frozen pieces apart and stir back into mixture.

Repeat every 30-45 minutes, until mixture resembles flaky, finely crushed ice. Entire process will take anywhere from 3-6 hours, depending on container size and freezer temperature.

Scoop into glasses and garnish as desired.

Serve immediately.