Preheat your oven to 350°F (175°C) and prepare a 12-cup muffin tin by greasing it or lining it with paper liners.
In a large mixing bowl, combine the all-purpose flour, shredded coconut, granulated sugar, baking powder, and salt. In another bowl, whisk together the melted butter, coconut milk, eggs, and vanilla extract until smooth.
Pour the wet ingredients into the dry ingredients and stir gently until just combined.
Divide the batter evenly among the muffin cups, filling each about 2/3 full. Bake for 18-20 minutes until golden brown and a toothpick comes out clean.
Allow the cakes to cool in the pan for about 5 minutes before transferring them to a wire rack to cool completely.
Prepare a simple frosting by mixing powdered sugar with a splash of coconut milk until desired consistency is reached, and drizzle over cooled cakes if desired.