Preheat oven to 350 degrees. Lightly coat a 9x5-inch loaf pan with vegetable spray. Sift flour, sugar, baking powder, and salt into medium bowl. Add coconut and blend well.

Combine milk, egg, oil and extract in another bowl and mix well. Add to dry ingredients all at once, stirring briefly until just blended; do not over mix.

Turn batter into prepared pan. Bake until toothpick inserted in center comes out clean; about 1 hour. Let cool in pan 8 to 10 minutes. Invert onto wire rack and let cool to room temperature before slicing.