In a medium sized bowl, add whipping cream, 1/4 cup of the powdered sugar, and 1 teaspoon coconut extract. Using a hand mixer, beat the cream until soft peaks form.
To make coconut dip:
In a separate bowl, beat cream cheese until light and fluffy. Add powdered sugar and coconut extract and beat again until it is smooth.
Then add the coconut milk and shredded coconut and beat until fully combined.
Carefully fold in whipped cream with a spatula. Keep refrigerated until ready to serve.
Serve with fruit or graham crackers or would be tasty in place of pudding in a parfait or trifle.
Notes
Can substitute thawed Cool Whip for the whipping cream and 1/4 cup powdered sugar.Refrigerate leftovers in a covered container. Leftovers will keep for 2-3 days.