As I mentioned, I found that the extract took much longer than the recipe indicated (about 7 weeks longer), to smell and taste like something that I would want to use. I wrote the recipe, below, to make room for either scenario.
What you'll need
2 ounces fresh coconut, thinly sliced or grated on a box grater
5 ounces vodka
How you'll make it
Place coconut in a clean glass jar; pour in vodka. Top tightly with lid. Shake well.
Place jar in a cool, dark place. Shake the jar every couple days.
After 1 week, give the extract a try. If you're happy with it, strain it (discard coconut) and store in a clean jar, in a cool, dark place, for up to one year. If not, let it sit, shaking and sampling, until you're satisfied with the flavor. It took my batch about 8 weeks.