Toast the coconut. Set the oven to 325°F (165°C).
Spread 1 to 1 1/2 cups shredded coconut on a baking sheet. Bake for 5–8 minutes, stirring once, until golden. Watch closely—it goes from golden to burnt fast. Set aside to cool.
Prepare the pie shell. If you haven’t already, blind-bake the pie crust until golden and fully set.
Let it cool completely so the filling doesn’t make it soggy.
Whisk the dry mix. In a medium saucepan off the heat, whisk sugar, cornstarch, and salt until no lumps remain.
Add liquids and yolks. Whisk in coconut milk and whole milk until smooth. Whisk in egg yolks until fully combined.
Cook the custard. Set the pan over medium heat. Cook, whisking steadily, until the mixture thickens and bubbles, 6–10 minutes.
Once it boils, cook 1 minute more to set the cornstarch. The custard should be thick enough to coat a spoon.
Finish the filling. Remove from heat. Whisk in butter and vanilla.
Fold in 1 cup shredded coconut. Taste and adjust sweetness or vanilla if needed.
Fill the crust. Pour the warm custard into the cooled pie shell. Smooth the top.
Press a piece of plastic wrap directly onto the surface to prevent a skin.
Chill until set. Refrigerate for at least 4 hours, or overnight for the cleanest slices. The filling should be fully set and sliceable.
Whip the cream. In a cold bowl, beat heavy cream, powdered sugar, and vanilla to medium-soft peaks. You want it fluffy but not stiff or grainy.
Finish and serve. Remove plastic wrap, top the pie with whipped cream, and sprinkle generously with toasted coconut.
Slice with a sharp knife, wiping between cuts for neat slices.