Preheat oven to 180°C. Grease a 21 x 10 cm loaf tin with butter.
Spread coconut out on a lined baking tray in an even layer. Toast in oven for 3-4 minutes until golden brown (watch like a hawk as it can burn easily!) Allow coconut to cool.
Lightly whisk eggs, coconut milk and vanilla together.
In a mixing bowl, sift flour, baking powder and cinnamon into a bowl. Add sugar and toasted coconut and stir to combine.
Make a well in the centre and gradually stir in the egg mixture until just combined.
Add melted butter and stir until the mixture is just smooth, being careful not to over-mix.
Pour into your greased loaf tin and bake in the preheated oven for 1 hour, or until a skewer comes out clean.
Leave in tin to cool for 5 minutes, and remove to cool further on a wire rack.
Slice with a serrated knife and serve in thick slices with butter.