Spread coconut on a sheet pan and bake 8 minutes. Stir every 2-3 minutes to toast evenly. Set aside to cool.
In a large bowl, whisk together lemon juice and sour cream. Whisk in coconut milk, dry pudding mix and coconut extract until no dry mix remains. Lightly fold in whipped topping and 2/3 of toasted coconut until well blended.
Pour into pie crust, top with remaining toasted coconut and refrigerate before serving.