Melt the butter and set aside to cool.
Adjust your oven rack to the lower middle position and preheat the oven to 325 degrees. Line 2 baking sheets with parchment paper. Set aside.
In a medium mixing bowl combine the flour, baking soda, salt and coconut. Set aside.
In the bowl of a stand mixer fitted with the paddle attachment, beat the melted butter, brown sugar and granulated sugar on medium until smooth and lightened. Add the egg, egg yolk, coconut extract and vanilla. Blend on medium speed until combined. Reduce the speed to low and add the flour mixture in 3 additions, blending just until the flour disappears. Scrape down the sides and bottom of the mixing bowl with a rubber spatula, and mix again and well combined. Add the nuts and chocolate chips and stir with a stiff spatula or wooden spoon until combined.
Using an ice cream scoop that holds about 2 tablespoons, roll the dough into balls and place them 2-inches apart on the prepared cookie sheet. Bake the first sheet while rolling the remaining cookie dough. Bake for 17-20 minutes or until the edges are set and beginning to brown and the center are still soft and puffy. Rotate the sheet halfway through baking to ensure even browning.
Remove from the oven and let the cookies cool for 10 minutes before transferring to a wire rack. Or, if you are using a rimless baking sheet, slide the entire sheet of parchment and cookies onto the wire rack to cool.