To make cake: Heat oven to 350ºF. Spread coconut onto large rimmed baking sheet. Bake 7 to 10 minutes, stirring every 2 minutes, until coconut is golden brown. Remove from oven; set aside. Reduce oven temperature to 325ºF. Meanwhile, generously grease and flour a 12-cup Bundt pan. In a large bowl, beat butter and sugar on medium speed until fluffy. Add eggs, one at a time, beating well after each addition; beat in extract. In a medium bowl, combine flour, baking powder, baking soda and salt; mix into butter mixture alternately with juice on low speed. Stir in toasted coconut. Pour batter into prepared pan. Bake 65 to 75 minutes or until toothpick inserted in center comes out clean. Cool in pan 10 minutes. Remove from pan onto wire rack to cool completely. To make rum glaze: Stir together melted butter, powdered sugar, rum extract and 1-2 tablespoons juice (enough until glaze is thin enough to drizzle). Drizzle glaze over cake before serving. Makes 16 servings.