In the bowl of a stand mixer, add the shredded coconut, powdered sugar, sweetened condensed milk, vanilla extract, and coconut extract. Using the paddle attachment, cream together until well combined.
Spray your hands with coconut oil, roll the coconut mixture into 1" balls, and place onto a parchment paper lined baking sheet. Gently press one almond onto each of the coconut balls, then place the candy in the freezer until solid.
Meanwhile, add about an inch of water to a small pot. Place a glass or metal bowl over the top that is bigger than the lip of the pan but not touching the water. Heat until simmering, then add about 80% of the chocolate to the bowl and set the remaining chocolate aside.
Let the heat from the bowl slowly melt the chocolate, stirring occasionally, until the chocolate is about 95% melted. Remove from the heat and add the remaining chocolate to cool the chocolate down a little. Keep stirring until the heat from the chocolate and the bowl will melt the rest.
Remove the candies from the freezer and use a fork to drop the coconut balls into the chocolate one at a time. Turn the candy over with the fork and then lift the candy up on the fork and let the excess drizzle off back into the chocolate.
Place the dipped candy onto the parchment lined baking sheet. You may need to use another fork or toothpick to help slide the candy off your fork.
Let the candy sit in a cool, dry place until the chocolate is set. Drizzle a little extra chocolate on top to create a pattern, if desired. Enjoy!