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Line an 8x8-inch baking dish with parchment paper. Set aside.
Place coconut milk, sugar and oil in a medium saucepan.
Bring to a simmer over medium heat, stirring occasionally.
Remove from heat and stir in chocolate chips until chocolate is melted and mixture is evenly blended.
Gently reheat over a hot water bath, if needed to melt any remaining chocolate.
Transfer chocolate mixture to the bowl of an electric mixer fitted with a paddle attachment and mix on medium-high speed for 3 minutes.
Pour into the prepared baking dish and sprinkle with toasted coconut.
Refrigerate until firm, at least 8 hours or overnight. Cut into 36 squares. Keep refrigerated until ready to serve.