Malibu is an alcoholic beverage with 21 percent alcohol by volume (ABV). The Malibu Splash is the newest addition to this beloved strong seltzer. This flavored variation of the traditional coconut drink has four new tastes, including lime and coconut. It comes in packs of four or eight and is packaged in lovely, summery cans. Although the malt beverage is minimal in calories, it contains a lot of alcohol. Like most other hard seltzers, it contains 5% alcohol by volume.