For the Cake:
Preheat the oven to 325°F. Grease a bundt pan with shortening and then flour.
For the chocolate batter: In a mixing bowl, mix the cocoa powder, sugar and flour together. Mix in the milk and then set aside.
In another mixing bowl, combine the flour, baking powder, and salt.
In the bowl of an electric mixer, beat the butter and sugar together for 2 minutes. Beat in the eggs, one a time. Mix in the vanilla and coconut extracts. Next, alternate between mixing in the flour mixture and the coconut milk in three batches until smooth.
Add 2 cups of the batter to the chocolate mixture and stir until combined. Then mix 2 tablespoons milk to the vanilla batter (this will help make the batter thinner and work better to create the stripes).
Spoon about 1/4 cup vanilla batter into each side of the bundt pan (I like to use a spring release ice cream scoop). Then spoon 1/4 cup chocolate batter on top of the vanilla batter. Continue layering spoonfuls of vanilla and chocolate batter. Occasionally give the pan a gently shake to help the batter spread.
Place in the bundt pan in the center of the oven and bake for 60 to 70 minutes or until a toothpick comes out clean. Let the cake cool on a wire rack for 15 minutes and then remove from pan and allow to cool completely on a wire rack.
For the Glaze:
Place chocolate and coconut extract in a bowl and pour hot coconut milk (or cream) on top. Cover with a plate or plastic wrap and let it sit for 2 minutes and then whisk together until smooth. Let cool for 5 minutes and then pour over the top of the bundt cake. Sprinkle with coconut flakes. Let set before slicing and serving.