Preheat your oven to 350ºF and arrange the hazelnuts on a rimmed baking sheet. Toast the hazelnut for 10 minutes, or until their skins begin to crack. (This helps the skins slide off easier.) Allow the nuts to cool, then rub them in a dishtowel to help remove their skins. It doesn't matter if you get every last speck of skin off-- you just want to remove as much as is easily possible.
Place the peeled hazelnuts in the bowl of a large food processor fitted with an "S" blade, then process them into a creamy nut butter, stopping to scrape down the bowl if necessary. This process should take 10 to 15 minutes, so be patient. You should hear a "sloshing" sound when the hazelnut butter has reached a nice and runny consistency.
Once the hazelnut butter is smooth, add in the coconut sugar, cocoa powder, and coconut oil, and process briefly. The mixture will look crumbly. Add in 1/4 cup of water and process again. Add 1 tablespoon of water at a time after that, until your desired texture is reached. I typically add 2 to 3 more tablespoons of water after the initial 1/4 cup.
Enjoy right away, and transfer the remaining chocolate hazelnut spread to an airtight container to store in the fridge. It should last up to 5 days in the fridge, or you can freeze it for up to 3 months.
Nutrition information is for 1 of 12 servings. This recipe makes roughly 1 1/2 cups of spread, so the serving size is roughly tablespoons. This is just an estimate and not a guarantee.Note: This recipe has been updated to be more clear & concise. I used to use only 1/2 cup of coconut sugar + 1 tablespoon of maple syrup, but now I use only coconut sugar to keep things more simple. Feel free to experiment with what you have on hand.