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1. Spread shredded coconut evenly onto a cookie sheet and broil on low for 2 minutes (watch carefully!). Shake pan to toss and continue to broil for another minute if needed. You want to to be light brown.
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2. Prepare a 8X13 pan by greasing with butter or lining with parchment or foil.
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3. In a large microwave proof bowl, place marshmallow, butter and coconut extract. Microwave for 1 minute and then stir and continue to microwave in 20 second intervals until smooth.
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4. Pour in rice cereal and stir until coated.
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5. Add shredded coconut (save a little for decoration at the end if desired) and stir.
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6. Fold in M&M's. (You can also break up Almond Joys or Mounds.)
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7. Dump into your prepared pan and press with buttered fingers to flatten.
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8. Drizzle with melted chocolate and sprinkle with extra coconut for decoration.