Place the coconut in a skillet and toast until most of the coconut is a light golden brown. Stir frequently. Allow to cool.

Sift the flour, baking powder and salt together in a medium bowl.

Cream the butter, both sugars, and toasted coconut until the mixture is light and the coconut flavor is infused with the butter - about an additional 4 - 5 minutes.

Add the eggs, one at a time to the batter. Beat well between each addition. Add in the coconut extract if desired, then add in the vanilla extract.

Slowly add the flour in thirds until it is fully incorporated in the batter. Fold in the chocolate chips by hand.

Chill the dough in the refrigerator for at least 30 minutes, preferably 1 - 2 hours or overnight.

Preheat the oven to 350 degrees F. Line a baking sheet with parchment paper. Roll the cookie dough into balls that are 2 tablespoons big.

Line the balls on the parchment paper about 2 inches apart and bake for about 10 - 12 minutes, or until the edges are golden and crispy.

Allow to sit on the baking sheet for a minute before transferring to a wire rack, then allow to cool completely.