Beat egg and combine with milks and coconut extract. In a large measuring cup or bowl with pour spout, combine dry ingredients and coconut shreds. Add milk mixture and stir until just combined. Do not over blend or pancakes will be rubbery.
Melt 1 T butter over medium heat in large skillet and drizzle olive oil over the pan. Pour batter into hot pan making the pancakes the size you like. Let batter cook undisturbed until bubbles appear on the uncooked surface, 3-5 minutes. Carefully flip pancakes and cook 2-3 more minutes until golden.
Serve pancakes immediately with additional butter, Cream of Coconut, Maple, Raspberry or Blueberry Syrup