Heat 1 teaspoon palm oil and olive oil in a pot over medium heat and cook onion until soft and translucent, about 5 minutes. Add red and green bell peppers and cook for 3 minutes. Stir in hearts of palm and tomato and drizzle with remaining palm oil.
Pour coconut milk into the pot and season stew with salt. Mix gently, stir in parsley, and simmer until all the vegetables are soft, about 10 minutes.