Mix the crushed graham cracker crumbs and melted butter in a small bowl until well mixed. Place in a 7 or 8 inch pie plate, and use the bottom of a glass and your hand to flatten them on the center and then up the sides.
Whisk the cold milk and instant pudding in another small bowl for about 2 minutes, or until thickened. Add coconut extract and mix well. Stir in toasted coconut, making sure to reserve a bit to sprinkle on the top.
Add the whipped topping in the center of the pie, leaving a bit of a an edge all the way around. Sprinkle with remaining coconut.
Refrigerate for 3-4 hours, or until firm. Keep chilled until ready to serve.