In a large, heavy-bottomed pot, combine the coconut milk, coconut oil (or cooking oil), and maple syrup. Stir gently over medium heat just until the coconut oil melts and the coconut milk starts to simmer lightly—avoid bringing it to a full boil.
Add the mashed or processed ube into the pot. Stir well, though the mixture may still appear somewhat coarse at this point. For a smoother finish, use an immersion blender directly in the pot, or transfer everything to a countertop blender, blend until silky, then return the mixture to the pot. Continue to cook over medium-low heat until it gently simmers again. At this stage, you may remove it from the heat.
If a thicker consistency is desired—for spreading or baking applications like ube crinkle cookies—extend the cooking time slightly. Keep in mind that the jam will continue to thicken as it cools.