Place a piece of foil over the entire pie plate with enough overhang that you can add uncooked dry beans or pie weights into the center. Bake covered for 20 minutes.
Remove from the oven, remove the foil, and bake for 5 minutes uncovered or until the crust is lightly golden browned; set aside to cool completely.
Filling:
To a medium saucepan, add the sugar, cornstarch, salt, and whisk to combine.
Add the coconut milk, Malibu Rum, and cook over medium heat whisking constantly until thickened; remove the saucepan from the heat and set aside.
To a large bowl, add the egg yolks, and beat lightly.
Add 1 tablespoon of the sugar mixture to the egg yolks, whisking constantly to keep the yolks from cooking.
Repeat the process two more times until the yolk mixture is nicely warmed (this process is known as tempering the egg yolks).
Now add your tempered egg yolks back into the sugar mixture in the saucepan while whisking constantly.
Cook for 1 minute over medium heat while whisking constantly; remove saucepan from the heat.
Add 1 tablespoon of butter and allow it to melt, while whisking constantly.
Add 1 more tablespoon of butter and allow it to melt, while whisking constantly.
Add the final tablespoon of butter and allow it to melt, while whisking constantly.
Pour the mixture into a bowl, cover with plastic wrap, and place in the fridge to chill for at least 20 minutes.
After the filling has chilled, pour it into the cooled crust, smooth with a spatula, cover with plastic wrap, and place in the fridge to chill for at least 1 hour.
Topping:
Preheat broiler to 500F or to High.
Add the shredded coconut to a sheet pan and place under the broiler for 2 to 3 minutes, removing it to stir the coconut after 1 minute.**
To a large mixing bowl, add the heavy cream and whip with a handheld electric mixer using the whisk attachment (or stand mixer with whisk attachment) until soft peaks begin to form.
Add the confectioners' sugar slowly while whipping, and then add the coconut extract while whipping.
When the filling has been refrigerated for at least one hour, spoon the whipped topping*** over the filling.
Refrigerate for at least 1 more hour.****
Sprinkle with the cooled toasted coconut before serving. Pie will keep airtight in the fridge for up to 3 days.
Notes
*Rum: Technically rum, or more specifically coconut rum, isn’t absolutely necessary. I used Malibu which is rum with coconut liqueur and there are only 3 tablespoons of it in the whole pie but it adds a nice extra layer of coconut flavor. The alcohol burns off during the baking process. However, if there’s a reason why you don’t consume alcohol, you can simply omit it. Perhaps bump up the amount of coconut extract you use instead**Toasting the coconut: You don’t have to top the pie with toasted shredded coconut at the end, but it’s a wonderful touch. Be careful though when you are broiling the coconut and keep a watchful eye on it. Coconut is so prone to burning and it can happen very fast, especially in such a hot oven.Basically don’t turn your back on the oven since it will only likely need 2 to 3 minutes, but stir it after a minute.Make sure the coconut is completely cooled before sprinkling it on the topping so you don’t melt your homemade whipped cream. ***Topping: To save time, feel free to use store bought whipped topping like Cool Whip rather than whipping your own cream.****Filling: The filling in this coconut cream pie is silky and on the looser side. It's mandatory to observe the three times you are instructed to chill the pie - the filling alone in a bowl, the filling after it's in the pie crust, and after you top the pie with the whipped cream.