Wash your glutinous rice 3-4 times or until the water starts to run clear. Leave your rice to soaked in room temperature water for at least 2 hours or overnight. You can simple leave this in room temperature throughout. After soaking, drain the rice from the water.
Heat a large skillet or cast iron pan with a large surface (a 12-inch pan would be great).
Once hot, add in the butter or oil. Sauté the onion and garlic until aromatic. Add in the bell peppers and carrots. Cook down until half-cooked. You can add in your protein of choice and cook down as well. Remove the vegetables and protein from the pan and set aside.
In the same pan, add in the soaked rice, turmeric and paprika. Mix to coat well.
Over medium heat, pour in the coconut milk and 3/4 cup of broth. Add in the dried bay leaves (if using) and season with salt. Gently mix and leave to simmer over medium low heat. Cover your pan and leave the rice to cook. Once it boils, you can lower the heat to prevent bottom from cooking too fast and burning. Halfway through cooking, you can add back in the vegetables and protein. Fold the veg and protein in the rice. Be careful not to over mix the rice since they can turn mushy if mixed too much. I left some vegetables and protein for topping.
If the rice still has a bite and needs more cooking, you can add additional broth and cover the pan. Allow to cook over low heat until so the rice can slowly cook in the heat until cooked through.
Taste the rice and feel free to season with more salt, to taste, if needed.
When the rice is almost cooked to your liking, remove the lid and allow any excess liquid to evaporate. When ready, turn off the heat.
Serve the arroz valenciana while hot. You get that nice stickiness from the rice and richness form the coconut milk. I topped mine with the remaining vegetables and protein. You can also top yours with boiled egg (sliced in wedges) if vegetarian.