Preheat oven to 375° F. Grease an 8×8 inch pan with cooking spray.

Open the can of coconut milk and combine the contents THOROUGHLY. This is best done in a blender or with vigorous whisking.

In a large bowl, stir together the homogenized coconut milk, melted coconut oil, eggs, granulated sugar, and vanilla.

In a medium bowl, whisk together the flour, shredded coconut, and baking powder, then add to the wet ingredients. Mix until just combined.

Pour batter into the prepared pan and bake for 30-40 minutes until golden brown and a toothpick comes out clean.

Remove the cake from the oven and allow to cool completely in the pan on a wire rack.

When cooled, sprinkle the top with powdered sugar if desired.

Store in an airtight container at room temperature for up to 1 week.