Preheat the oven to 350°F (175°C).
Grease a muffin tin or line it with paper liners.
In a large bowl, mix the shredded coconut, sweetened condensed milk, eggs, and vanilla extract until well combined.
In another bowl, whisk together the flour, baking powder, and salt.
Gradually add the dry mixture to the wet mixture, stirring until just combined.
Spoon the batter evenly into the prepared muffin tin, filling each cup about 2/3 full.
Bake for 20-25 minutes or until the tops are golden brown and a toothpick inserted comes out clean.
Allow the cakes to cool in the pan for 10 minutes before transferring them to a wire rack.
Serve warm or at room temperature, dusted with powdered sugar if desired.