In a small microwave safe bowl combine the butter and chocolate chips. Microwave for 30 second intervals stirring after each interval until the chocolate is completely melted.
Spread the melted chocolate mixture into a thin layer on a piece of parchment paper and place in the freezer.
In a large bowl, combine the milk, cream, sweetener, vanilla, and coconut extract. Whisk until the sweetener has dissolved.
Prepare your ice cream maker according to the manufacturers instructions.
Add the milk and cream mixture to the bowl of the ice cream maker according to the instructions. Churn for 20 minutes.
While the ice cream is churning, remove the chocolate from the freezer and break or slice into pieces. They don't have to be uniform and you can make them as big or small as you would like. Return them to the fridge or freezer until ready to use.
Once the ice cream has churned for 20 minutes, slow add in the coconut flakes and the chocolate pieces. Allow it to churn for an additional 5-10 minutes.
At this point the ice cream should be the consistency of soft serve. You can eat it immediately, or transfer it to a freezer safe storage container and freeze until it has become more solid.
Note - If you let it freeze completely solid, then you will need to allow it to thaw at room temp for 10-15 minutes before scooping.