Preheat your oven to 350°F (175°C) and line a muffin tin with cupcake liners.
In a large mixing bowl, combine 1 cup of full-fat coconut milk, 3/4 cup of granulated sugar, 1/3 cup of softened coconut oil, and 1 teaspoon of vanilla extract. Whisk until smoothly combined.
In another bowl, sift together 1 1/4 cups of all-purpose flour, 1/3 cup of cocoa powder, 3/4 teaspoon of baking soda, 1/2 teaspoon of baking powder, and 1/4 teaspoon of salt.
Gradually add the dry ingredients to the wet mixture, folding gently with a spatula until just combined. Be careful not to overmix; a few lumps are perfectly fine.
Spoon the batter into the prepared muffin tin, filling each liner about 2/3 full.
Bake in the preheated oven for 18-20 minutes or until a toothpick inserted in the center comes out clean. Allow the cupcakes to cool in the tin for about 10 minutes before transferring them to a wire rack to cool completely.
While the cupcakes cool, take 12 ounces of chilled coconut cream and whip it with an electric mixer until light and fluffy. Gradually add in 1/2 cup of powdered sugar until well incorporated.
Once the cupcakes are completely cool, use a piping bag or a spatula to frost each cupcake with the coconut cream frosting.
Top each cupcake with shredded coconut for a delightful finish.