Place milk, cream of coconut, and mango in a blender.
Pulse to mix well.
Add ice cream and vanilla.
Process on high until well mixed and frothy.
Pour milkshake into 2 glasses.
Sprinkle toasted coconut on top of milkshake.
NOTE: Cream of coconut is popularly marketed as "Coco Lopez" and is highly sweetened. You'll find cream of coconut in the supermarket drink mixer section. If instead you use coconut cream, such as that marketed by "Ocho Rios", you should add 2 tablespoons of sugar to the milkshake. Coconut cream will be in the baking section of your supermarket.