1. Prepare the Crust:

1. Preheat oven to 325°F (165°C). Grease and flour a 10-inch bundt pan.
2. In a large bowl, cream together butter and sugar until light and fluffy.
3. Add eggs one at a time, beating well after each addition.
4. In a separate bowl, whisk together flour, baking powder, and salt.
5. Alternately add the flour mixture and coconut milk to the butter mixture, beginning and ending with the flour. Stir in vanilla and shredded coconut.
6. Pour batter into prepared pan and bake for 60-70 minutes, or until a toothpick inserted comes out clean.
7. Cool in pan for 15 minutes, then transfer to a wire rack to cool completely.