Preheat oven to 350ºF and line a loaf pan with parchment paper.

Add all of the dry ingredients to a large bowl and whisk the ingredients together. Set aside.

Next, add the coconut oil to a large bowl and beat it with an electric mixer or standing mixer. Mix on high until the coconut oil is smooth. Add the sugar and almond extract to the coconut oil and mix until the mixture is light and fluffy.

Slowly pour the coconut milk into the coconut oil and sugar mixture while mixing on low. Mix until combined.

Add 1 egg at a time until the egg is just combined into the mixture.

Slowly add the dry ingredients to the wet ingredients on low and scrape the sides of the mixing bowl a few times.

Transfer the cake batter to the lined loaf pan and bake the coconut cake for 20 minutes. After 20 minutes, turn the loaf pan, and bake the cake for another 15 minutes or until a toothpick comes out clean.

Remove the cake from the oven and let it sit in the pan for 2 minutes. Gently lift the cake out of the pan by lifting the edges of the parchment paper. Place the cake on a cooling rack. Let the cake cool completely before slicing and glazing.

Prepare the coconut and glaze while the cake is cooling. Spread the shredded coconut and coconut flakes out on a baking sheet and broil the coconut on the middle rack (not the top rack) of the oven for 1-3 minutes. Be sure to watch the coconut while broiling. Remove the coconut from the oven when the coconut begins to turn a golden brown color. Set aside.

For the glaze, add the coconut milk to a bowl and add the almond extract. Slowly add the powdered sugar to the coconut milk until it reaches a thicker consistency and the sugar is completely dissolved.

To glaze the coconut loaf cake, transfer the coconut loaf and cooling rack to a baking sheet. Carefully pour the glaze over the loaf cake. The glaze should mostly remain on the top of the loaf, but it’s ok if some glaze drizzles over onto the sides.

Press the toasted coconut onto the top of the loaf and transfer the loaf to the refrigerator to set.

Serve the loaf cake in slices.