In a small pan over low-medium heat, toast coconut, stirring frequently until golden brown. Remove from heat and transfer to small bowl to cool. Keep a close eye on it as it can turn from golden to burnt quickly!
1 teaspoon shredded coconut
In a blender, combine vanilla ice cream, cream of coconut, coconut extract, coconut rum (if including) and blend until well combined and smooth.
1 1/2 cups vanilla ice cream, 1 Tablespoon cream of coconut, 1/8 teaspoon coconut extract, 1 ounce coconut rum
Add 1 sheet graham cracker and pulse to combine - you don't need to blend it to be smooth, just combined into small chunks.
1 whole sheet graham crackers
Pour into 12 ounces glass and top with whipped cream, toasted coconut and graham cracker crumbs. Add a straw, serve immediately and enjoy!
Whipped cream for garnish
Notes
Want more than one milkshake? Simply double the recipe for as many as you need!