In a bowl, beat cream cheese, powdered sugar, and extract until well blended. Add 2/3 cup of the Cool Whip and fold in. Add in 1 cup or the coconut and fold until combined. Spread in the bottom of the prepared pie shell.
In another bowl, whisk the milk and pudding mix together. Place in the refrigerator for 3-5 minutes. Then drop spoon of the pudding over the coconut layer and spread out.
Top pie with the remaining Cool Whip and refrigerate until ready to serve,
Spread the remaining coconut on a baking sheet. Bake at 350 degrees for 4-5 minutes. Stir every minute until golden. Watch carefully so it doesn't burn. Let cool and sprinkle on top of the pie before serving. Serves 6-8