Heat coconut oil in a large skillet over medium-high heat. Add onion and cook for 4- 5 minutes, or until tender. Add garlic and cook an additional minute.
Add chicken and cook, stirring occasionally, for a few minutes until cooked through.
In a mixing bowl, whisk together coconut milk, lime juice, sugar, curry powder, salt, ginger, basil and cayenne pepper. Pour into skillet and stir to combine.
In a small bowl, whisk together water and cornstarch to make a slurry then stir into skillet. Let cook for a few minutes, until thickened.
In a small bowl, whisk together water and cornstarch to make a slurry then stir into skillet. Let cook for a few minutes, until thickened. Remove from heat and garnish with cilantro before serving.