Preheat your oven to 350ºF and line a loaf pan with parchment paper.
In a large bowl, whisk together all the dry ingredients and set aside.
In another large bowl, beat the coconut oil until smooth using an electric or standing mixer. Add sugar and almond extract, beating until light and fluffy.
Gradually add coconut milk to the mixture while mixing on low speed until combined.
Add eggs one at a time until just combined.
Slowly add the dry ingredients to the wet ingredients on low speed, scraping the sides of the bowl as needed.
Transfer the batter to the lined loaf pan and bake for 20 minutes, then rotate the pan and bake for another 15 minutes or until a toothpick comes out clean.
Let the cake cool in the pan for 2 minutes before transferring it to a cooling rack.
While the cake cools, spread shredded coconut and coconut flakes on a baking sheet and broil for 1-3 minutes until golden brown.
For the glaze, mix coconut milk and almond extract, then slowly add powdered sugar until thickened.
Once the cake has cooled completely, pour the glaze over the top and sprinkle with toasted coconut.
Refrigerate to set the glaze, then slice and serve.