Combine the coconut milk, sugar, extracts and 1/2 cup sweetened coconut flakes in a blender and blend for 30 seconds. (leave the coconut flakes out for a smoother popsicle)
Pour the mixture into 5oz paper cups or popsicle molds and place in the freezer for 15 minutes (without the sticks in).
After 15 minutes scoop a dollop of cool whip on top of each mold, insert popsicle stick, then sprinkle with toasted coconut. Place back in freezer for at least 4 hours. Remove popsicles from by dipping the mold into warm water for 5 to 10 seconds, or if using paper cups, just tear the cup away from the popsicles. Enjoy!