If you are toasting your own coconut and almonds, do that first, and place them in the freezer to cool while you prepare the dip.
Beat cream cheese and butter in a mixing bowl till smooth and creamy. Beat in powdered sugar, 1 tablespoon of the milk, coconut extract, and vanilla. Stir in the toasted coconut, chocolate chips, and sliced almonds. Add more milk if needed.
You can serve immediately, or chill for 30 minutes or several hours. It actually tastes better after the flavors have had a chance to blend. Serve with graham crackers or fresh fruit. We like granny smith apples.
The dip will thicken as it chills. I like to leave it out at room temperature for at least 30 minutes before serving. For best flavor, make sure you toast the almonds and coconut. I put mine in pie plates in a 400 degree oven and bake for a few minutes till they are lightly browned. The coconut takes about 5 minutes, the almonds take about 7.