1. Open coconut &
shred flakes. Place the shredded coconut on a baking sheet and toss with
the confectioner's sugar. Bake, stirring often, until the coconut is dry and
mostly toasted light brown with some white shreds, 10 to 15 minutes.
2. Meanwhile, add the granulated sugar to the coconut juice
and bring to a boil over high heat, stirring to dissolve the sugar. Completely
cool the toasted coconut and coconut syrup.
3. To make the frosting, combine all of the ingredients,
except the extracts, in a 2-quart double boiler insert or heatproof bowl. Place
over a medium saucepan of seriously simmering water. Using a hand-held electric
mixer set at medium-high speed, beat until hot and fluffy, a full 7 minutes (set
a timer). Remove from the heat, add the vanilla and coconut extracts, and beat
for 1 more minute to cool slightly. Use the frosting immediately, or it could
crust over.
