Grind the coconut, tender coconut water, and cardamom together.
Extract the coconut milk and strain it well.
Add corn flour to the coconut milk, mix thoroughly, and set aside.
Heat 1 tablespoon ghee in a pan and roast the cashews until golden; set aside.
Pour the coconut milk mixture into the pan and cook for a minute.
Add sugar and bring to a boil; continue cooking on medium flame.
Add 1 tablespoon ghee, stir well, and cook until the mixture turns glossy.
Add another 1 tablespoon ghee and cook until the halwa leaves the sides of the pan and becomes non-sticky.
Optionally, add the remaining ½ tablespoon ghee and turn off the heat.