Preheat oven to 350°F (175°C).
In a medium mixing bowl, combine graham cracker crumbs, sugar, and shredded coconut. Stir until evenly mixed.
Add the melted butter to the dry ingredients and mix until combined.
Press the mixture into the bottom of a greased 9-inch springform pan, ensuring an even layer. Bake for 15 minutes, or until the edges are slightly golden. Remove from the oven and set aside.
Lower the oven temperature to 325°F (163°C).
In a large bowl, beat the softened cream cheese with a hand mixer until smooth and creamy.
Add sugar, cornstarch, finely diced coconut, vanilla extract, coconut extract (if using), and salt. Mix until fully incorporated.
Gradually add the beaten eggs, mixing well after each addition.
Slowly pour in the coconut milk and blend until smooth.
Pour the cheesecake mixture into the prepared crust.
Place the springform pan in a roasting pan and carefully fill the roasting pan with water until it reaches halfway up the sides of the springform pan to create a water bath.
Bake the cheesecake for 1 hour and 15 minutes, or until the center is slightly jiggly but set.
Remove from the oven and allow the cheesecake to cool to room temperature. Once cooled, wrap it in foil and refrigerate for at least 8 hours, or overnight.
Before serving, spread whipped cream over the top of the cheesecake, reserving some for piping if desired.
Garnish with toasted coconut, slice, and enjoy!