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Chill the can of coconut milk overnight. The next day, make the cakes. Heat oven to 180C/160C fan/gas 4 and line a 12-hole muffin tin with muffin cases. Put the coconut oil and sugar in a large bowl and use an electric whisk to beat together for about 5 mins until light and creamy. Add the eggs, one at a time, beating until fully combined before adding more. Working in three additions, add the flour, alternating with the coconut milk, then add the vanilla extract.
Scoop the batter into the prepared muffin tin using an ice cream scoop, then bake for 20-22 mins or until the cakes are golden and a skewer inserted into the middle comes out clean. Remove the cupcakes from the tin and cool on a wire rack.
The whipped cream is best made within a few hours of serving. Open the can of coconut milk upside down and pour off the thin liquid. Scoop the thick coconut milk into a large bowl, add the icing sugar and the vanilla, and whisk for 2-3 mins until soft and fluffy. Spread or scoop the whipped cream onto the cupcakes and sprinkle with the desiccated coconut. Best stored in the fridge and eaten within a couple of days.