Preheat your oven to 350°F (175°C). Spread sweetened coconut flakes evenly on a baking sheet and toast them for about 10-12 minutes, stirring halfway to avoid burning.

Once they turn golden brown, combine the toasted coconut with melted coconut oil in a bowl. Press this mixture firmly into the bottom and sides of a lightly greased 9-inch pie plate, then refrigerate for 1 hour to set.

In a mixing bowl, whisk together the instant pistachio pudding and whole milk until thickened (about 2 minutes). Reserve 1.5 cups of this filling and pour the rest into the cooled crust.

Fold the reserved pistachio pudding into the whipped cream and coconut extract. Spread this mixture over the pudding layer in the crust, smoothing it with a spatula.

Cover with plastic wrap and refrigerate for at least 4 hours (up to 8) to meld flavors and firm up the filling.

When ready to serve, garnish with reserved coconut flakes, chopped pistachios, and whipped cream.