Preheat the oven to 325°F (163°C). Spread the shredded coconut in an even layer on a large baking sheet and bake 5–7 minutes, stirring once, until slightly toasted. Remove and set aside.
In a large bowl, whisk together the flour, coconut sugar, baking powder, baking soda, and salt until evenly combined.
In a small bowl, whisk the coconut milk beverage, eggs, melted coconut oil, and vanilla until smooth.
Pour the wet ingredients into the dry ingredients and stir gently until just combined; do not overmix—the batter should be slightly lumpy.
Heat a griddle or large skillet over medium-low and lightly coat with cooking spray or a little oil. Drop about 1/3 cup batter per pancake onto the hot surface.
Sprinkle each pancake with some of the toasted coconut. Cook until bubbles form on the surface and a few pop, about 2 minutes, then flip and cook until the underside is golden, about 2 more minutes.
Continue with the remaining batter and toasted coconut. Serve warm with butter and coconut syrup, if desired.