In a space saucepan, bring the chicken broth to a boil. Remove from the heat and add the lavender buds. Let steep for 5 minutes.
Cool the chicken broth slightly. Remove most of the steeped lavender from the chicken stock; leaving a small amount is fine.
Add half of the corn and the chicken broth to a food processor. Cover and process until smooth.
Add the processed corn back to a mixing bowl. Add the remaining corn to the processed mixture. Stir in the coconut milk. Add the salt and pepper to taste.
Chill in the refrigerator if you want the soup very chilled.
Garnish with chopped fresh thyme.