Combine lima beans, garlic, kosher salt, and 1 cup water in a medium saucepan. Bring to a boil over medium heat. Cover, reduce heat to low, and cook 15 minutes. Remove from heat, and let cool 15 minutes. Drain, reserving 1/4 cup liquid.
Process lima bean mixture, reserved liquid, olive oil, and remaining ingredients in a food processor 30 seconds or until smooth. Cover and chill 30 minutes to 1 hour. Store in an airtight container up to 3 days.