Place a large skillet over high heat. Heat the oil and butter and saute the onion, carrot (optional), and garlic until the onion begins to soften (about 1 minute).
Add the cabbage, coconut, and curry powder; sautee for 2 more minutes.
Reduce heat to medium-low; pour in the coconut milk, and season to taste with salt and pepper.
Cover, and cook to desired doneness.