In a medium bowl, whisk together graham cracker crumbs and granulated sugar until well combined. Pour in melted butter and mix until the mixture resembles wet sand. Press firmly into a 9-inch pie plate or shallow dish. Chill in the refrigerator for 30 minutes or bake at 350°F (175°C) for 8-10 minutes until slightly golden.

In a large mixing bowl, beat softened cream cheese until creamy and smooth, about 1-2 minutes. Gradually pour in sweetened condensed milk, continuing to beat for another 2-3 minutes until fully incorporated. Add vanilla and coconut extracts, mixing until evenly distributed.

Fold the whipped heavy cream into the cream cheese mixture using a rubber spatula. Gently add in toasted shredded coconut, ensuring even distribution.

Spoon the Coconut Cream Pie Dip into the chilled graham cracker crust or a serving bowl. Spread evenly and sprinkle additional toasted coconut on top.

Cover the dip with plastic wrap and chill in the fridge for at least 30 minutes to meld flavors.

Present the Coconut Cream Pie Dip with an array of dippers such as graham crackers, vanilla wafers, apple slices, strawberries, or pretzel sticks.