I agree entirely, that it is less elegant. But I've found that a coping saw makes short work of a coconut and makes removing the flesh so much easier. I didn't bother to seal the shells I used, since they were only to be used for one summer, and then be recycled as fire starters.@Keith_Beef - Sawing it and half and gluing back together wouldn't be as sturdy or as elegant as a solid water carrier and it adds the extra complication of sealing, but sure, if it was the only possibility..
@richtheclimber - Won't work, the hole is so small that rodents probably aren't going to be able to sink their teeth into the flesh inside
And I'm pretty sure that a rodent that can smell the flesh will gnaw a bigger hole in the shell, and right where you don't want it to be.