Preheat the oven to 350°F (175°C) and prepare an 8x8 inch baking dish by greasing it lightly or lining it with parchment paper.

In a large mixing bowl, cream together the softened butter and granulated sugar until fluffy. Add the eggs one at a time, mixing well after each addition. Stir in the milk and vanilla extract until combined.

In another bowl, whisk together the all-purpose flour, baking powder, and salt. Slowly add these dry ingredients to the wet mixture until fully integrated, avoiding overmixing.

Fold in half of the shredded coconut into the batter. Add a few drops of pink food coloring until you achieve your desired shade.

Pour the batter into the prepared baking dish, spreading it evenly. Bake for 25-30 minutes, or until a toothpick inserted in the center comes out clean. Let it cool completely in the pan.

In a small bowl, mix powdered sugar with enough milk to form a thick frosting. Add more pink food coloring if desired.

Once the cake is completely cool, frost the top and sprinkle the remaining shredded coconut over it.

Refrigerate for at least 30 minutes before slicing into bars.