Using an electric mixture, combine cream cheese and sugar until smooth. Beat in eggs one at a time. Add coconut milk mixture, lemon juice and vanilla; beat until smooth. Stir in flaked coconut.
Pour into prepared pan. Place pan on baking sheet and bake until filling is set, about 1 hour and 20 minutes.
Remove from oven; cool slightly.
Cover and refrigerate overnight or up to 3 days.
Run knife around edge to loosen; remove pan sides.
Place on cake plate and sprinkle with toasted coconut.