Coconut Farm
A great farm for you to do at the beginning of your world is the coconut farm. As it is a simple farm, it can be done in the first hour of gameplay. To make your farm, simply place a hopper below the central flowers of the palm tree. See an example of this farm in the image below:
Farm operation
The operation of the farm consists of taking advantage of the peculiarity that, over time, coconuts fall from the leaves of the tree, and if it falls into a hopper, it will be collected automatically. Visual demonstration: