In a large bowl, cream butter and sugar. Beat in the egg and extracts. Combine the flour, baking powder and salt; add to creamed mixture alternately with milk. Fold in coconut.
Pour into a greased 9x5-in. loaf pan. Sprinkle with sugar. Bake at 350° for 50-55 minutes or until a toothpick inserted in the center comes out clean. Cool for 10 minutes before removing from pan to a wire rack.