Bring water to a boil in a medium saucepan. Add rice & salt. Cover & cook on low heat until almost all the water is absorbed, about 15 minutes.
Add milk & cook uncovered, stirring frequently until about 1/2 the milk is absorbed. Stir in the 1/4c sugar, cinnamon, ginger, and raisins. Continue to cook until the rice is soft & the milk is absorbed.
Stir in coconut. Gently fold in papaya. Taste & add more sugar, if desired.