Preheat the oven to 350°F (175°C). Grease a 9x9-inch baking dish with butter or non-stick spray.
In a large mixing bowl, whisk together the coconut milk, cream cheese, sugar, eggs, vanilla extract, almond extract, and salt until smooth and well combined.
Gently fold in the cubed bread and shredded coconut, ensuring all the bread is coated with the mixture. Let it sit for about 10 minutes to absorb the liquid.
Pour the bread mixture into the prepared baking dish, spreading it evenly.
Bake in the preheated oven for 30-35 minutes, or until the top is golden brown and a toothpick inserted in the center comes out clean.
Remove from the oven and let it cool for about 10 minutes before serving. Drizzle with sweetened condensed milk if desired and serve warm with whipped cream.