HEAT oven to 350°F. Line 24 muffin cups with paper liners.
Combine flour, baking powder and salt in medium bowl. Beat sugar, butter, banana and coconut extract in large bowl with electric mixer on high until creamy. Beat in eggs, one at a time. Add in flour mixture and milk. Beat on medium until smooth. Stir in coconut and pineapple topping. Divide evenly into muffin cups.
Bake 18 to 20 minutes or until toothpick inserted in center comes out clean. Place on wire rack to cool.
For Frosting:
BEAT cream cheese, butter and shortening in large bowl with electric mixer on high until smooth.
Add powdered sugar. Beat on low until creamy. Mix in pineapple topping.
Beat on high until fluffy. Frost cupcakes. Garnish with toasted coconut.
TIP*to toast coconut: Spread coconut on a microwave-safe plate.
Microwave on HIGH 1 to 3 minutes, tossing with fork after each minute, until golden brown.
Remove from plate immediately to avoid overbrowning.