Crack both eggs into a shallow bowl. Add coconut milk, coconut flakes, and vanilla extract. Whisk until smooth.
Quickly dip a slice of bread in the mixture on each side. If the coconut flakes don't stick very well, use a fork to pick some coconut flakes out of the mixture and onto the bread.
Transfer to a greased pan over medium heat.
Cook on both sides until golden brown. Repeat with remaining bread.
Top with your favorite toppings and enjoy!