Preheat your oven to 325°F (160°C). Grease and flour your loaf or bundt pan, ensuring all crevices are covered. In a medium bowl, whisk together the flour, baking powder, and salt. Set aside. In a large bowl, use a mixer to cream the butter and sugar until light and fluffy, about 3-4 minutes. Beat in the eggs one at a time, ensuring each is fully incorporated. Mix in the vanilla and coconut extracts. Gradually add the dry ingredients to the wet mixture, alternating with the coconut milk, beginning and ending with the dry ingredients. Fold in the shredded coconut. Pour the batter into the prepared pan and smooth the top. Bake for 65-75 minutes, or until a toothpick inserted into the center comes out clean. Let the cake cool in the pan for 10 minutes, then transfer to a cooling rack. In a small bowl, whisk together the powdered sugar, coconut milk, and coconut extract until smooth. Once the cake has cooled completely, drizzle the glaze over the top. Sprinkle with toasted coconut flakes for a finishing touch.