Prepare the Crust: Preheat your oven to 350°F (175°C). Place the pie crust in a 9-inch pie pan and bake according to package instructions or until golden brown. Let it cool completely.

Make the Filling: In a medium saucepan, whisk together the milk, heavy cream, sugar, cornstarch, and salt over medium heat. Bring the mixture to a simmer, whisking constantly.

Temper the Eggs: In a separate bowl, whisk the egg yolks. Once the milk mixture is simmering, slowly pour about 1/2 cup of the hot liquid into the yolks while whisking to temper them. Gradually whisk the tempered egg mixture back into the saucepan with the remaining milk mixture.

Cook the Filling: Continue to cook the mixture over medium heat, whisking constantly, until it thickens (about 2-3 minutes). Once thickened, remove from heat and stir in the butter, vanilla extract, and coconut extract. Fold in the shredded coconut.

Cool the Filling: Pour the coconut cream filling into the cooled pie crust. Smooth the top and let it cool to room temperature. Then, refrigerate for at least 3 hours or until fully set.

Serve: Before serving, top the pie with whipped cream and toasted coconut flakes for a beautiful presentation. Slice and enjoy!