Preheat oven to 325°F (163°C) and grease a 9-inch springform pan.
In a bowl, combine graham cracker crumbs, chopped coconut, and melted butter; press firmly into the bottom of the pan.
Bake the crust for 10 minutes, then remove and let cool.
In a large bowl, beat cream cheese and sugar until smooth and creamy.
Add eggs one at a time, beating on low speed until just combined.
Stir in coconut milk, vanilla extract, and coconut extract until smooth.
Pour the filling over the cooled crust and smooth the top.
Bake for 55 to 65 minutes, or until the edges are set but the center still jiggles slightly.
Turn off the oven, crack the door, and let the cheesecake cool inside for 1 hour.
Refrigerate for at least 6 hours or overnight before serving.
Garnish with toasted coconut flakes before slicing.