Make the Cupcakes:

Preheat oven to 350°F (175°C). Line a muffin tin with liners.

Cream butter and sugar until light and fluffy. Mix in oil, coconut extract, and eggs.

Combine dry ingredients. Add alternately with milk. Mix until smooth.

Divide into liners and bake 16–18 mins. Cool completely.

Prepare Filling:

Whisk yolks, sugar, and cornstarch. Heat milk in a saucepan until steaming. Temper yolks with warm milk, then return all to the pot.

Cook until thickened. Stir in butter, coconut extract, and flaked coconut. Cool completely.

Core & Fill:

Use a knife to core the center of each cupcake. Fill with cooled coconut cream mixture.

Make Frosting:

Beat butter and shortening until smooth. Gradually add powdered sugar, coconut extract, and enough liquid to reach fluffy consistency.

Decorate:

Pipe frosting on cupcakes. Top with toasted coconut and (optional) pie crust crumbles.