Preheat your oven to 350°F (175°C) and prepare a 9x5-inch loaf pan by greasing it well and lightly flouring the interior.

In a medium bowl, whisk together the flour, baking powder, baking soda, and salt.

Cream together the softened butter and granulated sugar using an electric mixer on medium speed for about 3–5 minutes until light and fluffy.

Add the eggs one at a time, mixing well after each addition until the mixture is creamy and well combined.

Stir in the vanilla extract until just incorporated.

Gradually combine the dry ingredients with the coconut milk, starting and ending with the dry ingredients. Mix gently until just combined.

Fold in the shredded coconut using a spatula or wooden spoon, being careful not to overmix.

Pour the batter into the prepared pan and bake for 50–60 minutes or until a skewer inserted in the center comes out clean.

Let the cake cool in the pan for 10–15 minutes before transferring it to a wire rack to cool completely.

For the glaze, mix powdered sugar, coconut milk, and additional vanilla extract until smooth. Drizzle over the cooled cake.