Preheat the oven to 325 degrees F and grease and flour a 12-cup bundt pan and set aside.
In a medium-sized bowl, add the flour, baking powder and salt. Whisk well and set aside.
To a large mixing bowl, add the room temperature butter and the sugar and mix with an electric mixer on medium-high for about two minutes until the mixture is light and fluffy.
Add the room temperature eggs, coconut extract and vanilla extract to the butter/sugar mixture and mix on medium speed until well combined. Scrape down the sides of the bowl and mix again for about 10 seconds.
Add half the dry mixture to the butter/sugar mixture and mix on medium speed only until just combined. (Only about 20 seconds.)
Take the can of coconut milk and shake it well, then open it. Do not discard the layer of fat at the top of the can when it’s opened. This is what makes this cake moist and delicious. Mix that in with the liquid in the can and then measure out one cup and add to the batter. (Reserve the rest of the coconut milk for the glaze.) Mix on medium speed only until well combined. (About 15 seconds.)
Add the other half of the dry ingredients and mix on medium speed until well combined. (About 15 seconds.) Be very careful not to mix too long. Mixing for a minute or longer is way too long. This will over-develop the flour and can cause a dense and gummy cake.
Scrape down the sides of the bowl and mix again on medium speed for only about 10 seconds.
Add the shredded coconut and mix in by hand with a large spoon or silicone spatula.
Add the batter to the prepared pan and bake at 325 degrees F on the middle rack for approximately 60-65 minutes. Ovens vary, so it may take a bit longer or maybe a bit shorter for you. A toothpick inserted into the center of the cake will come out with a few moist crumbs on it or clean, but no raw batter.
Remove the cake from the oven and set on a cooling rack to cool for about 15 minutes, then turn the cake out of the pan and set directly onto the rack to let it cool completely before adding the glaze.