Step 1: Preheat your oven to 325°F (160°C). Grease and flour a 10-12 cup Bundt pan thoroughly.
Step 2: In a large mixing bowl, cream together the softened butter and granulated sugar with an electric mixer until light and fluffy, about 5-7 minutes.
Step 3: Add eggs one at a time, beating well after each addition. Scrape down the sides of the bowl as needed.
Step 4: In a separate bowl, whisk together the sifted all-purpose flour, baking powder, and salt.
Step 5: Gradually add the dry ingredients to the wet ingredients, alternating with the milk, beginning and ending with the flour mixture. Mix on low speed just until combined, being careful not to overmix.
Step 6: Stir in the vanilla extract and coconut extract. Fold in the sweetened shredded coconut until evenly distributed.
Step 7: Pour the batter into the prepared Bundt pan and smooth the top. Bake for 1 hour 15 minutes to 1 hour 30 minutes, or until a wooden skewer inserted into the center comes out with moist crumbs.
Step 8: Let the cake cool in the pan on a wire rack for 15-20 minutes before inverting it onto the rack to cool completely.
Step 9: While the cake cools, prepare the glaze: In a small bowl, whisk together the powdered sugar and milk until smooth. Adjust milk for desired consistency.
Step 10: Once the cake is completely cool, drizzle the glaze evenly over the top, allowing it to drip down the sides. Slice and serve.