Preheat oven to 350°F. Spread 1 cup shredded coconut on baking sheet and toast for 15-20 minutes, stirring every 5 minutes until light golden brown. Set aside to cool.
Mix dry ingredients in large bowl: 2½ cups flour, baking powder, baking soda, 1 cup sugar, ½ teaspoon salt, and toasted coconut.
Combine wet ingredients in separate bowl: whisk coconut cream with ¼ cup melted butter until smooth, then add buttermilk, eggs, and coconut extract.
Fold wet into dry by making well in dry ingredients, pouring in wet mixture, and gently folding until just moist. Do not overmix.
Prepare streusel topping by mixing ¼ cup softened butter, 1 cup coconut, ¾ cup sugar, ½ cup flour, and pinch of salt until crumbly.
Fill muffin tins ⅔ full with batter, then top each with 1 tablespoon streusel mixture, pressing gently.
Bake for 25 minutes until golden and toothpick inserted in center comes out with few moist crumbs. Cool 5 minutes in pan, then transfer to wire rack.