In a microwave-safe bowl, combine the evaporated milk, coconut milk, eggs, sugar, cornstarch, and salt. Whisk until completely smooth. Microwave for 5-7 minutes, stirring between each minute, until smooth and thickened. Stir in the bag of coconut and vanilla extract. Pour into pie shell and refrigerate for 2 to 4 hours or until firm.

Using a whisk or the whisk attachment on a mixer, whip the cream until it holds soft peaks. Sift the powdered sugar into the cream and whip until it can hold its shape, being careful not to over-beat. Spread whipped cream onto the cooled pie and sprinkle with toasted coconut. Enjoy!