Place the cubed taro in a pot filled with boiling water.
Cook the taro for 15-20 minutes, until fork-tender.
Drain the taro and while hot, mash the mixture with a fork (or potato masher).
While the taro is still hot, add in the coconut oil, condensed milk/sugar and mix until combined. (If you prefer a purple hue to the taro paste, you can add purple sweet potato powder).
Note: if you prefer a silky smooth texture, you can run it through a food processor or high-powered blender.
Let cool and store the taro paste in an airtight container in the fridge until ready to use.
Notes
As the taro paste cools in the fridge, it will stiffen a little.