Preheat oven to 350 degrees.
In an electric mixer, with the paddle attachment, beat butter and sugar for about 3 minutes.
While the butter and sugar are beating, combine flour, baking powder and salt in a bowl, and give it a stir with a fork.
Add in one egg at a time, beating just to incorporate.
Next, beat in extracts.
Turn the mixer to low and alternate flour mixture and coconut milk until combined.
Scrape the sides and bottom of bowl.
Add shredded coconut to the batter and give it one more quick mix.
Prepare a loaf pan, with a strip of parchment paper and butter,use a ceramic loaf pan.
Pour batter into the loaf pan, spread evenly, and bake for about 1 hour to 1 1/2 hours. The time will vary per oven. You have to check the loaf and make sure it's finished. The top will be golden brown, and the center comes out, almost clean, with a toothpick. Please check the center with a toothpick to ensure the loaf is finished. If it's not, it will fall in the middle when you take it out.