In a small saucepan, add the milk and heat over medium-high heat until it reaches 140°F on a drink thermometer. If you don’t have a drink thermometer, ensure the milk does not boil. If it boils it will burn and the burnt flavor will transfer into your custard.
In the bowl of a stand mixer fitted with the whisk attachment, add the egg yolks and cane sugar. Whisk on low for 2 to 3 minutes or until lightened in color.
Add in the flour and whisk to combine completely.
Once the milk has heated, turn the mixer on low and slowly add in the warm milk into the egg mixture. Once completely combined, stop the mixer.
In a clean medium saucepan (do not use the one the milk was heated in, incase milk stuck to the bottom, that will burn if used without washing), pour in the egg mixture. Put over low/medium heat.
Continue to heat while continuously stirring with a high heat spatula by scraping the bottoms and the sides. The mixture will start to rise and may bubble, continue to stir. The mixture will start to thicken, and continue to stir. The trick is to keep stirring so clumps do not form, as you want a smooth custard. If you see clumps beginning to form, stir vigorously and they will dissolve.
Continue to stir until the custard coats the spatula and does not drip off when you lift it from the pot. You can also check this by scraping the custard in the center of the pot and ensuring that it doesn’t run back in. We just want a thick custard.
Add in the butter and coconut extract to the custard, and stir to combine completely. Transfer to a medium bowl and place in the refrigerator for at least 4 hours or overnight (no need to cover it).
Preheat the oven to 350°F.
To make the crust: In a food processor, add the graham crackers, butter, and cane sugar. Pulse, and then mix the graham cracker crumbs until you have a uniform mixture and fine crumbs and there are no chunks of graham cracker or butter in the crumb mixture.
Grease a 9-inch pie pan with butter. Transfer the graham cracker mixture to the pie pan, and lightly press it to the sides first. Use the remaining crust, and press it down into the bottom of the pan.
Bake for 5 minutes or until lightly golden brown. Allow to cool completely.
To assemble the pie: In the bowl of a stand mixer fitted with the paddle attachment, add the heavy whipping cream, cane sugar, and vanilla extract. Mix on low and gradually increase the speed as the whipped cream starts to thicken, until you are full speed. Whisk until stiff peaks form.
Reserve half of the whipped cream (8 ounces or about 1 cup) for the topping and set aside. Add in about half (4 ounces) of the remaining whipped cream and fold to combine, then add in the other half (4 ounces) of the remaining whipped cream and the wide flake coconut, and fold to combine completely. It helps to add in half at a time so you don’t break the whipped cream when folding into the cold custard.
Transfer the coconut cream mixture to the cool crust, and spread evenly. Top with the remaining 8 ounces of whipped cream. Sprinkle a few extra coconut flakes on top for garnish (optional).