Preheat the oven to 350°F (175°C).

Grease a 9-inch round cake pan with oil or butter and dust it lightly with flour.

In a mixing bowl, whisk together the flour, sugar, baking powder, shredded coconut, and salt.

In another bowl, combine the coconut milk, vegetable oil, eggs, and vanilla extract. Whisk until smooth.

Gently fold the wet mixture into the dry ingredients until just combined.

Pour the batter into the prepared cake pan and spread it evenly.

Bake in the preheated oven for about 45 minutes, or until a toothpick inserted comes out clean.

Let the cake cool in the pan for 10 minutes before transferring it to a wire rack.